XPEV
Expected price to hover around 35 after sharp rise last week. Current range for Xpeng is 30-40 and a clear support is forming under 35. Furthermore, a slow decline in price for Xpeng while hovering above 30 is a strong sign for Xpeng.
On a macro overhead, the market is currently favoring more towards NIO over Xpeng, so price would not overtake NIO in the short run. Notice that when Xpeng price was near NIO, there was a sharp dip. Furthermore, volume for NIO is significantly higher than Xpeng. If the price for Xpeng were to be near NIO in the short run, it is a good sign to take profit before entering at the drop.
However, I believe in the long run, Xpeng will triumph over NIO.
Currently expect price to hover under 35 but above 30 until earnings report on the 12/11/2020 before rising.
Currently ema 10 crossed ma 10 but gap remains narrow, and the RSI is out of the overbought range, indicating a good price for investors to enter.
These are just my current thoughts, I am still on holding at 23, but plan to take profit at 43-44.
What are your opinions?