XPeng is one of the biggest Electric Car Brands in China. The Chinese Government announced that it wants to support Clean Energy and Electric Cars. Also Volkswagen published a Cooperation with XPeng to produce Cars together. This is a Sign, that the European Car Producers know that China is ahead of them. XPeng has low Production Costs and a Quality that is getting as good as in Europe. However, their last Quarter Results were negative and the Quarter Results that will be published on August 18th will probably be negative, too. The Stock has risen 200% in one Month and is overbought. Since June XPeng is in a Rising Broadening Wedge that might breaks out to the Downside, because this Pattern is bearish and the Stock is way to overbought. The Target of the Pattern is 8 Dollars, but I think 10-12 Dollars are more realistic. I will update you when a Breakout happens!
Have nice Day!
Have nice Day!