To The Moon

$XPeng Inc.(XPEV)$ I revise my trade stance on XPEV to LEAN BULLISH from the previous stance of NEUTRAL. The stock is still trading in the symmetrical triangle pattern it has been in for the past few weeks. The past 2 trading days' movement has turned out as I expected, with a bounce off the lower trendline and move back towards the upper trendline. In today's pre-market trading, the stock gapped up on the back of strong delivery numbers for the quarter. Similar strength was also seen in LI and NIO on the back of their strong delivery numbers. The stock has a healthy 14-day RSI of 50.43 and is currently trading between the lower and middle Bollinger Bands. The stock is expected to open near the middle BB, and could suggest a potential upside breakout of the symmetrical triangle pattern in the coming days. I have also plotted the Fibonacci retracement levels on the stock - it bounced off the 9.64 level in the last few days of trading and is now set to open above the 10.46 level. So, how do we trade this? I would adopt a wait and see approach. If we manage to breakout of the symmetrical triangle and hold above 10.46, I would take CALLS (i.e. 11C or 11.5C) expiring 2-3 weeks from now. If we fail to hold 10.46, I would take PUTS (i.e. 10.5P or 10P) expiring 2-3 weeks from now back to the lower trendline of the symmetrical triangle. Good luck everyone! If you enjoyed this post, then leave a like and/or a comment on my post and follow me for more of such posts! @TigerWire @TigerStars @CaptainTiger $SPDR S&P 500 ETF Trust(SPY)$ $Tesla Motors(TSLA)$ $NIO Inc.(NIO)$ $Li Auto(LI)$ $Apple(AAPL)$