Assessing the trends of Chinese EV Stocks
New data from a China Passenger Car Association report showed a record 50.7% of Chinese cars purchased in July were so-called new energy vehicles, or NEVs, meaning they were either electric vehicles or plug-in hybrids. The report provided several numbers demonstrating how China is expanding its global lead in EV adoption.
NIO
NIO's industry-leading battery swap technology is continuing to gain prowess as the Chinese EV company hits another milestone. This week, NIO hit 50 million cumulative battery swaps, providing evidence that the EV charging method is not only viable but also preferred by many drivers.
Nio daily chart
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 above (orange coloured downtrend line), even for mid term, Nio seems will continue to retrace towards 3.63 USD. And as predicted, Nio retraced to this support level and formed a double bottom now. I believe here is the bottom for Nio and a rebound is highly possible in the near term. Bullish vote for Nio $NIO Inc.(NIO)$
XPENG
Xpeng has reportedly overhauled its organizational structure, similar to local peers Nio and Li Auto, to increase its bet on end-to-end technology. Xpeng has reorganized its organizational structure in line with the changes in the smart driving technology route, with the new structure focusing on end-to-end AI large models.
Xpeng daily chart
For Xpeng, its movement was slightly stronger than NIO, at least it was still on a uptrend since early May 2024. However, thing might totally change for Xpeng soon, its share price seemed to fall below its uptrend line support. This is a critical level to monitor, if the share price is unable to stand back the uptrend line, we would see further drop in Xpeng $XPeng Inc.(XPEV)$
LI
Chinese new energy vehicle company Li Auto announced Thursday it delivered a record number of cars in July, boosted by sales of its new, lower-cost Li L6 SUV. The new model and most of Li Auto's cars come with a fuel tank for extending the battery's driving range.
Li daily chart
Technical wise, as compared to Nio and Xpeng, Li experienced a much more stable share price movement since the end of May 2024. This week, a higher low pattern was formed in Li technical chart, as drawn in blue above. This might be a trend reversal indication for LI auto, which is definitely a great news for its investors. A bullish vote for LI $Li Auto(LI)$
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I believe XPEV will make the sales number and cars sold. Just average down and enjoy the ride! Long term hold and 18-24 month target of $40.
The Chinese EV market has been experiencing significant growth, with a record 50.7% of cars purchased in July being new energy vehicles (NEVs). This demonstrates China's expanding global lead in EV adoption.
NIO, a Chinese EV company, has reached a milestone of 50 million cumulative battery swaps, showcasing the viability and preference for its battery swap technology. Despite a significant drop in NIO's share price since 2024, there are indications of a potential rebound. The stock has retraced to a support level and formed a double bottom, suggesting a possible trend reversal and a bullish outlook for NIO.
XPeng, another Chinese EV company, has reportedly overhauled its production line, which may impact its share price. If the share price fails to hold above the uptrend line support, further drops could be expected.
Li Auto, a Chinese new energy vehicle company, delivered a record number of cars in July, driven by sales of its new, lower-cost Li L6 SUV. The company's share price has shown more stability compared to NIO and XPeng. A higher low pattern has formed in Li's technical chart, indicating a potential trend reversal and a bullish outlook for the stock.
When considering investing in US or Chinese EV stocks, it is important to evaluate various factors such as market conditions, company fundamentals, growth potential, and regulatory environment. Both the US and China have significant EV markets, but each has its own unique characteristics and risks. It is advisable to conduct thorough research and analysis before making any investment decisions.
Please note that the information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it is important to carefully consider your financial situation and risk tolerance before making any investment decisions.
Looks like all the weak hands have gone now, just diamond hands shorties and gonks like retro and value_man etc left here. Go Nio.....
One reason for nio going down. It is all selling..... and lack of buyer's for their shares at each price level they drop to, ... month after month after month.
XPEV will be under $4.00 soon like NIO. Even XPEV has least sales these days.
Nio it’s going to be a multi trillion dollar company so sit back relax and enjoy it. You are going to be a millionaire.