We can see NIO ripping up the chart with 600+% and showing that government funding backed with actual product delivery increase is a winning combination.
Workhorse which signed a EV delivery truck deal of 8.1 billion with USPS has been delayed last week due to elections, took a big slump after a major peak last month and now at 470%.
The beloved Tesla with only 186% after reports of china competition in the EV market will not be in favor of the American company and the earning which Elon called "best ever" didn’t help - Tesla is losing momentum every day from its peaks since the EV competition is getting tighter and more crowded.
NKLA EV trucks are holding by a thread with the GM Motors deal that may not come through after all and in that case they are expected to crash and burn below the 18 line of support (see full cover in my previous idea on NKLA).
last we have the somewhat unknown XPEV (Xmotors) also Chinese EV stock that is starting to get some market buzz lately and may seem to fight back real soon after the Aug and traded at 20$.
THE BOTTOM LINE is that all eyes are on elections and if Biden may win then EV stocks are expected to jump much higher as Biden represents green energy endorsement -the hottest stocks at the moment in the market are EV , solar and green energy in general and that’s where we the traders should be focusing on.
sorry about the lack of technical but in our eyes, you must first cover the fundamental in order to time perfectly your entry with technical.
You mentioned the competition in China, Tesla is dominating all Chinese EV’s in China, And their global BEV market share has grown from 18% last year to 23-24% YTD even before Berlin and Texas come online. But I am an investor first and would like your opinion of where you think the best growth medium term growth may come. Cheers
Thank you for your nice work and your input
The jump today was a joined jump for all EV stocks but as the buzz around tesla as Apple was 5y ago traders are always looking to jump in and buy it that’s what I got from today’s rally from all the sources I went through.
Regarding retracment I think tesla will pull back next week after the hype about Biden wining dies down ..as a stock on fundamentals it is traded over 4 times of its capital gains and that is a lot of hot air that I wouldn’t put my money in ..but tesla is TELSA so who knows :)