What is the most probable scenario for XPEV?
XPEV's move from 22.73 to 47.98 has recovered 50 % of its major drop from 74.49 to 22.73. Mentioned drop is showing a remarkable 5 down going waves which can be labeled as wave A. ( wave 1 is also possible but we skip this alternative for now). last up going wave ( from 22.73 to 47.98 ) can be just wave A of B which...
I'm waiting for a retracement back to 121.52 for a shorting opportunity, this setup gives an opportunity to stretch our target and provide a Reward:Risk (RRR) up to 4:1.
Welcome to this update.
The gaps are there and they always get filled.
IMO Within the next two weeks we can see this move happening.
Also to keep in mind the bearish pattern we just broke down from: RISING WEDGE.
TARGETS: Support Levels:
1) $2580.80
2) $2335.70
SL will be the purple line as shown in the chart: $2881.4.
Stay tuned for more updates.
#Peace
