NASDAQ:LI   LI AUTO INC SPN ADS ECH REP 2 ORD SHS CL A
Sorry for the hiatus, folks. Hope everyone made bank on the picks!!! APPS and KIRK killing it. SPCE starting nice run, though, I sold entire position today. PLUG went supernova!!!

I like LI on the cup and handle here. Measurements on the chart for run. Waiting for the break of the upper trendline of the handle to get in.

Like and follow if you like the play!!

Leave a comment with any suggestions!!

Comments

Can we please get your entry and exit ๐Ÿ™
Support and resistance
+3 Reply
NetWorthFocused mannyjavaid
@mannyjavaid, so I'm looking at the $33 level to hold as support on this one. It's a pretty key level and smart money will have to defend in this area on account of the pocket pivots from the beginning of this month. However, if this breaks the upper handle trendline of the C&H, that's confirmation for me.
Reply
I am long on LI. Kind awaiting here for the big break. I hope it comes soon.
+2 Reply
NetWorthFocused PassaporteTV
@PassaporteTV, We're in a high probability set up here, my friend. I think it looks good. But don't be afraid to cut if it doesn't pan out though. There's always other trades.
Reply
I love this pattern ๐Ÿ˜ only a few see it
+1 Reply
NetWorthFocused TheSignalyst
@TheSignalyst thanks, brother ๐Ÿคœ๐Ÿค› Iโ€™m a huge fan also!!!
Reply
do you still see a breakout in li auto after todays perfomance? can you please put an estimated price target around the beginning of february
+1 Reply
NetWorthFocused knowndesert
@knowndesert, I do. Friday's before an extended weekend are usually sell offs. Broader market didn't do so hot either.

I usually like to wait for confirmation moves before entering these swings but I saw some opportunity with the fear today.

I like $47 as the final target but I will begin to scale out at $37. My entry at $33 today was a starter position (1/3 of what I intended to invest here). My stop is at $31. I will scale in the other 2/3 between my entry and halfway between my entry and stop, or $32. I'll flip to smaller timeframes and look for confirmation candles and patterns (hammers, double bottoms, etc). If it dips below 32, I pause and wait because I'd rather be stopped out with a starter position than a full position.

When $37 hits, I will scale out by thirds, even if it's just my starter position. The final third will be a trailing stop loss. Just my risk mgt rules so you know where I'm at.
Reply
I just started following you so miss the big plays like plug and apps
+1 Reply
NetWorthFocused mannyjavaid
@mannyjavaid, No worries. I'm just getting back from a sabbatical anyway ๐Ÿ˜‚
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out