Long at $56 Support
XPEVXpeng has been on a retracement path towards a potential support at $56.
If price reaches near $56 and forms a good rejection, price would start taking off towards $80.
In order for Xpeng to grow, price needs to fall back down and $56 would be a good price for Xpeng to fall back on.
Furthermore, if NIO were to close the gap with Xpeng, more investors would be hopping on the bandwagon.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.