Li auto is likely nearing the end of a corrective ABC move and is currently a wave 4 in wave C. Wave 5 of C should ideally take price to the $21.50 level which is the 0.618 retracement of the move up from the Oct 2022 lows.
Should price reverse from here it is likely that the correction took the form of a WXY move where wave Y has 3 waves, instead of an ABC move where wave C has 5 waves.
Should price reverse from here it is likely that the correction took the form of a WXY move where wave Y has 3 waves, instead of an ABC move where wave C has 5 waves.
Comment:
Looks like the correction was indeed completed on 22 Jan