The XPEV share is currently trying again to establish itself below the $7.51 support level. We assume that it will succeed in doing so soon. The green wave (2) should lead to a sell-off to the blue Target Zone (coordinates: $5.31 - $3.01). There we expect the low of the protracted correction and thus a long-term trend reversal. Traders and (long-term) investors can take advantage of the price range to build up long positions.
You can draw whatever lines you like on this one, it’s no way going to $3 or $5 as you suggest. Investors have been basically brainwashed into believing that Xpeng, Byd, Nio and the rest build inferior cars and it’s not fair because they are all subsidised by the nasty communist Chinese government, bla , bla , bla. Fact is these guys are coming whether the USA likes it or not. The quality of these cars is amazing and they can build them much cheaper than the west coz that’s what the Chinese do. So if the USA wants to stop them with prohibitively high tariffs then good luck with all the stuff that the USA currently sells them. Can’t have your cake and eat it. Buy Xpeng and Nio now.
Fact is these guys are coming whether the USA likes it or not. The quality of these cars is amazing and they can build them much cheaper than the west coz that’s what the Chinese do.
So if the USA wants to stop them with prohibitively high tariffs then good luck with all the stuff that the USA currently sells them. Can’t have your cake and eat it.
Buy Xpeng and Nio now.