XPEV
Tesla jumped $60 after news that it will join S&P500
This caused a huge momentum for the Chinese EV companies, pushing away bearish calls.
I was waiting on the double bottom back at $38 but this would not be happening.
Conditions will be pushed back to overbought later today and the day after following NIO's earnings.
I regretted taking profit early but I entered at $46, a bit high but it is still good.
Since I entered on the high, I will be trailing stop loss once it hits $50.
Notice that more people are valuing XPeng more, with price neck-to-neck with NIO.
This is faster than expected, but as I said before.
XPeng will triumph over NIO, mainly due to the economies of scale from automatic manufacturing.
All in all, Chinese EV is definitely an industry not to miss out.
Komen:
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