Xpeng Stock – With China EV Stock XPeng, It’s Buyer Beware
The China-based company XPeng Inc. (XPEV) designs, produces, and distributes electric vehicles. They offer smart electric vehicles, as well as finance, parts, and maintenance services.
The world of electric vehicles (EV) is hot right now let’s check out the charts of XPEV.
In the daily Japanese candlestick chart of XPEV, below, we can see some dramatic up-and-down swings in its short history. Prices are trading above the rising 20-day and 50-day moving average lines.
The daily On-Balance-Volume (OBV) line shows improvement from early May and tells us that buyers are becoming more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is crossing above the zero line for an outright buy signal.
In this daily Point and Figure chart of XPEV, below, we can see a potential upside price target of around $74.
Bottom-line strategy: XPEV could rally to $74 or it could decline to $25. I hesitate to recommend the stock in either direction. I would stand aside for now.
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