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LI AUTO INCLI AUTO INCLI AUTO INC

LI AUTO INC

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LIA/N trade ideas

Li Auto - No Shortage of Chinese EVThis one is starting look decent on the daily. Recent double bottom on RSI and MACD. Volume profile is noteworthy only in that the sellers are drying up. PA forming a nice ascending triangle with higher lows. That inspires confidence, especially against the upper trendline resistance. Looking to open before the inevitable squeeze as price action gets clamped by the EMA (20) and MA (50). I suspect that will give us a good bump in volume that could break above that major resistance level. From there, I suspect it will retest December highs. All of these EV's in China are looking at breakouts in the next week or two. Stay tuned.
NASDAQ:LILong
by SLOPolarBear
1
$LI setting up for a bullish rallyHello dear padawans. Today we are going to take a look at LI, the Chinese car company. If you read what analysts say you may be torn between buying or waiting on this one. Here I am just looking at the chart. Overall the outlook is very bullish for LI. All indicators on the chart are bullish on the daily timeframe. Volume today was not exceptional but above average, which resulted in that nice green candle. Additionally, LI is on the verge of breaking out of the triangle accumulation pattern, which has formed over the past 3 months after ATH. Seems like a good amount of time to cool off and reset for a new rally. The textbook way to trade this pattern is to wait for a breakout bullish from the triangle. I am anticipating a breakout so I already entered the trade. I accumulated recently on every touch of the triangle support so I am already seeing some green after today's bullish candle. Remember that although outlook is bullish it doesn't mean we will go to the moon tomorrow. In fact, there is nothing saying it won't go down although I would be very surprised if that happens. Also, if it breaks bullish be on the watch for throwbacks as they happen frequently on this type of pattern (BNGO just did that today after breaking out of the same pattern--hopefully it will bounce back up tomorrow). Bottom line: if you enter a trade, put a stop loss that matches your risk tolerance. The dotted lines are the targets on the way up in case we go there. Good luck and safe trades! Show your love: If you get anything out of this TA, please hit the like button so other can find this analysis quicker. Follow for more: If you want the best entry/exits just follow me, you won't regret. Thanks a lot! ***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
NASDAQ:LI
by Safe_Trades
4