Chinese EV maker Li Auto (LI) posted a U&R five days ago on the chart and is now pulling into the 20-dema where it could offer a lower-risk entry using the 10-dma or 20-dema as tight selling guides. Chinese EV makers have mostly been down on the day on news that Tesla (TSLA) is introducing lower priced vehicles into China.
Nio (NIO), another Chinese EV maker is holding up on a recent breakout:
Meanwhile, yet another Chinese EV maker Xpeng (XPEV) is pulling into its 10-dma after posting a U&R five days ago on the chart in a manner similar to LI.
Undercut & Rally - Li Auto (LI) U&R plus Five 10/1/20
|Published:||1 Oct 2020 13:17 ET|
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