XPEV, We need to be careful now !
Updated
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 means there may be another up going wave ( Wave C of B) after a correction down to 35, 32 or even 28 USD ( Wave B of B) corresponding to 50 % , 61.8 % and 78% Fibo Retracements respectively. Possible targets for next possible up going wave are shown on the chart. Please note that whole correction ( in the case of having a large ABC correction) may end at 13 USD !. Also, we need a trade below 39.71 to be confident about having at least a correction down to mentioned support prices.All these explanations are briefly shown on the chart.
Stochastic and RSI indicators are showing a bearish divergence with price which could be an strong bearish signal.
It is worth to note that stock may go down below last major low (22.73) without any additional up going wave ( I think it has low probability) therefore, we do not go long without any strong bullish signal in proposed support prices.
I have to emphasize that in terms of timing, chart is just schematic drawing So I kindly ask you to disregard dates on the chart.
We always enjoy our trading? Don't we?
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 means there may be another up going wave ( Wave C of B) after a correction down to 35, 32 or even 28 USD ( Wave B of B) corresponding to 50 % , 61.8 % and 78% Fibo Retracements respectively. Possible targets for next possible up going wave are shown on the chart. Please note that whole correction ( in the case of having a large ABC correction) may end at 13 USD !. Also, we need a trade below 39.71 to be confident about having at least a correction down to mentioned support prices.All these explanations are briefly shown on the chart.
Stochastic and RSI indicators are showing a bearish divergence with price which could be an strong bearish signal.
It is worth to note that stock may go down below last major low (22.73) without any additional up going wave ( I think it has low probability) therefore, we do not go long without any strong bullish signal in proposed support prices.
I have to emphasize that in terms of timing, chart is just schematic drawing So I kindly ask you to disregard dates on the chart.
We always enjoy our trading? Don't we?
Note
We had trade below 39.71 today which confirms at least having a correction down to support prices.Note
So far, Every thing followed the prediction. In the case of fall to 32-33 an ABC form of correction will be completed and we can go long only and only with a strong bullish sign.Note
Taking out 44.42 High confirms the stock being on the way to the proposed targets at 54 or 63 USD.Note
XPEV may started the wave 3 of C rally bouncing back from a strong support. If true it will reach at least to 54 USD.Note
If you want to open a long Poisson:Entry : Current prices
Stop loss : 39.32
Reward to Risk : 14 (Minimum) or even higher
Note
Strong bullish reaction to 0.786 retracement of last move up. I opened the position again with new stop loss which is 35.79.Note
Every thing followed prediction so far!. Lets see how it reacts to proposed targets.Note
We made a prediction several week ago and now we see it followed our prediction nicely !Note
We may need a major turning to bullish case update ! Taking out 56.45 major high is a key ! If so, we will publish our bullish case long term targets !Note
Never took out 56.45 high to start thinking about bullish scenario.Our chart provided several weeks ago (published on 6th July 2021) is still working!.
Note
XPEV lost the last major low as we predicted several month ago ! What an accurate long term prediction ! Still any doubt about the power of Elliott waves??Note
XPEV at 14.56 USD. It is reaching to my long term 13 USD target !!!!.Note
My 13 USD target is reached today. It was predicted 14 months ago !!!.
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