To The Moon

Rebound from the leader, Tesla What a great rebound and rally by Tesla for the past 2 weeks before the selloff on last Thursday after the news reported that the company was going to delay its Robotaxi project by another 2 months to October, in order to allow teams working on the project more time to build additional prototypes. Tesla daily chart If we look at Tesla daily chart, the recent rally sent the share price beyond its major critical resistance like EMA200 and also a midterm downtrend line. Last Thursday, after the negative news on the Robotaxi delay, the share price plummeted but it might be totally normal due to some profit taking activities by investors after the massive rally. For me, 2 critical levels to take note: - As long as the share price stays above the EMA10, investors no need to be over worry about the short term volatility - The previous downtrend line (drawn in Orange colour) had turned into a strong support now. The share price should stay above this line or have a strong rebound upon touching this line Everything seems to be healthy now for Tesla and I believe there is much more to come after this wave of correction, $Tesla Motors(TSLA)$ . Chinese Trio shows sign of reversal 🛑🛑🛑 A very interesting breakout can be seen in all the 3 Chinese EV Trio charts, notably NIO, Xpeng, LI Auto. Let's look into them one by one. @NIO Over 50% drop in NIO's share price since 2024. An obvious downtrend for this EV stock since 2021 from its peak at around 65 USD. As shown in the chart below, we can notice a low profile breakout for NIO towards the end of last week. Do take note on the stock as most of the time, such mid term downtrend line breakout will result in a strong short term rebound, and I believe it might be the case for NIO $NIO Inc.(NIO)$ , moreover the worst of EV sectors might be already over and priced in. Nio daily chart @XPEV Very similar chart pattern with Nio, Xpeng share price also successfully broke up from its mid term downtrend line, at the end of last week. For Xpeng, its breakout was slightly stronger than NIO, mainly due to the gap up and it was accompanied by a great volume, signifying an increasing buying momentum for Xpeng. With this significant breakout, I am bullish for Xpeng $XPeng Inc.(XPEV)$ and believe it will move towards the next resistance level at around 10 USD, which is also around the EMA200 resistance level. XPEV daily chart @Li Auto As compared to Nio and Xpeng, Li Auto has a much stronger chart as its share price already showed sign of reversal since 2 weeks ago. It was at the moment that the share price began to exit its downtrend parallel channel. Since then, the share price rebounded and moved up like a staircase. I believe LI Auto $Li Auto(LI)$ share price will continue to perform well. The near term target price will be somewhere around 27-30 USD, approximately 30% gain. LI daily chart Last but not least, not to forget the recent EV player Xiaomi! Xiaomi EV, the car-making arm of Xiaomi, has seen cumulative deliveries of its first model, the SU7, surpass 20,000 units as it struggles to ramp up production capacity. Xiaomi launched its first electric vehicle (EV) model, the SU7, on March 28, offering three variants : Standard, Pro, and Max. These model has been facing capacity bottlenecks since its launch, with it gaining unprecedented acceptance. Customers who currently order the Xiaomi SU7 have to wait around 30 weeks for delivery, while the delivery cycle for the highest priced Max variant is as long as 35 weeks. For such, I remain bullish for $XIAOMI-W(01810)$ given its strong EV sales. Questions for you, my beloved readers Do you like EV stocks? Most of them have been in an obvious downtrend for the past 2 or 3 years. Majority of the EV field investors are still losing money. Will you revisit or stay away from EV stocks? @TigerStars @CaptainTiger @MillionaireTiger @Daily_Discussion @TigerGPT @Tiger_comments