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Weekly Trade-Ideas for the 11 Automobile ManufacturersWeekly Trade-Ideas for the 11 Automobile Manufacturers #1 Li Auto Inc ADS (Symbol LI) has been trading in a narrow range between the price level of $30.09 and $33.20 since December 4, 2020. The stock found a temporary bottom at $26.68 on December 29, 2020, as part of the Double Bottom Class II Pattern. The current price is $30.99 based on the market close of January 5, 2021, 4 PM EST. Trade Idea: Still Bearish, Price Target around $36. Maybe this stock may trade between the range of $33 and $36. #2 Workhorse Group Inc (Symbol WKHS) has been trading in a narrow range since December 1, 2020. The stock retested the previous high price on December 24, 2020, but failed to penetrate that price level. Trade Idea: This stock may pullback and then break out to a test price level of $26. #3 Xpeng Inc ADS (Symbol XPEV) showed sign of a temporary bottom around $37.58 on December 28, 2020. The stock just penetrated the major bearish trendline on December 31, 2020. The current stock price is $42.34 as of the market close on January 5, 2021, 4 PM EST. Trade Idea: Too early to determine anything. #4 Arcimoto Inc (Symbol FUV) is currently at a major support price level of around $13.30 as of the market close on January 5, 2021, 4 PM EST. Trade Idea: A retest of the previous high around $18.91 is possible. #5 Nikola Corporation (Symbol NKLA) is testing the $16.03 as of the market close on January 5, 2021, at 4 PM EST. The stock found a temporary bottom at $13.77 on December 23, 2020. Trade Idea: Breakaway from the major bearish trendline, short-term target price at around $18.19 #6 NIO Inc (Symbol NIO) is currently retesting the previous high on Nov 25, 2020. Trade Idea: Pullback retest low of around $51.17, and then breakout above $53.20, still too early to determine. It may become a double top pattern too. #7 Telsa Inc (Symbol TSLA) is testing the current high price of $735.11 as of the market close on January 5, 2021, 4 PM EST. Trade Idea: Pullback retest of the bull gap on Jan 4, 2021. #8 Toyota Motor Corp ADR (Symbol TM) is currently testing the new high price level of around $153.40. Trade Idea: If the momentum stops, the stock may pull back to $145. #9 Honda Motor Co ADR (Symbol HMC) temporarily bottomed on Mar 23, 2020, at around a price of $19.92. The stock price chart just formed the inverted head and shoulders pattern. Trade Idea: Possible retest bull gap of week November 9, 2020, and then the uptrend to continue, but this is still too early to determine. #10 General Motors Co. (Symbol GM) is testing major resistance at around a price of $43. Trade Idea: Possible pullback below the major bullish trendline to a possible low of $33, but if the correct momentum continues this stock may breakout from the $43.67 price level. #11 Ford (Symbol F) is testing major resistance at around a price of $9.56. Trade Idea: Short-term price target of $11 Thank you for reading! Greenfield Remember to click "Like" and "Follow!" Disclosure: Charts and articles interpreted by Greenfield. A market idea by Greenfield Analysis LLC for educational purposes only. This is not a solicitation and not a recommendation. Greenfield Analysis LLC has no investment in any of the securities mentioned in the article, and no plan to initiate a trade in any of the securities mentioned. Greenfield does not receive any compensation for this writing. Investment involves substantial risk. You should consider carefully before making an investment and investment is at your own risk.
NASDAQ:LI
by GreenfieldAnalysis
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