XPeng Inc. (XPEV) Technical Analysis
$XPeng(XPEV.US$ delivered 8,620 units in June, down 44% from the 15,295 delivered in June 2022.
XPEV share price which has struggled the most lately. Shares of XPeng have fallen 56% over the past 12 months, while the S&P 500 and Nasdaq Composite have gained about 16% and 24%, respectively, over the same span.
But if we considered the recent last quarter (Q2) for XPEV share price. It did drop briefly after its earning report in May 2023, but it seem to be on an upward climb since then.
I am writing this article to explore the technical analysis with a multi-indicators to see how XPEV price trend is be like moving forward and whether it will be undergoing any positive or negative reversal.
XPEV On Average Directional Index (ADX)
As seen in the chart below, the ADX line is between 20 and 40, this suggest presence of a developing trend.
It also indicate to us a signal to pay attention to the market and look for potential entry points in the direction of the trend.
Next, I will look at +DI and -DI, +DI cross over the -DI, this mean that it is a suggestion to BUY as well.
As mentioned above, we will look at 2 other indicators.
XPEV On Relative Strength Index (RSI)
RSI chart is showing us that XPEV is now in overbought region, but it might be due to the recent surge in price brought upon by large amount of buying.
RSI indicator can stay in the overbought region for extended periods while the stock is in an uptrend. XPEV has just cross into the overbought region, we shall see how it will performed in this 1st week of July and Q3.
XPEV On Parabolic SAR
SAR is showing XPEV is enjoying a strong bullish uptrend, there is no sign of potential reversal. This seem to tally with what the 2 indicators are showing us.
XPEV is in a developing uptrend, so it might be a good opportunity to buy into XPEV.
I might consider to buy again as I have previously sold my XPEV holdings to take profits.
Summary
From what I have gathered, it seem like XPEV is in a developing bullish trend, this would mean that now is the opportunity to buy into XPEV.
But I think it is also wise to follow the news and fundamental so that we can have more information to enhance our decision making.
Appreciate if you could share your thoughts in the comment section whether you think ADX+RSI+SAR multi-indicators combination is good to analyze XPEV for a trade?
Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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MonkeyGee : The CEO kind of indirectly increase next quarters forecast in the G6 announcement. They have orders for the G6 already it just matter of product and delivery. so if Q2 earnings meet expectations with a q3 forecast increase to 10k car a month. Xpeng is going to rocket!
nerdbull1669OP MonkeyGee: Thank you for your comment. Yes, I believe this quarter deliveries will be much better. XPEV should be trending up.
MonkeyGee nerdbull1669OP: follow me for more updates. read some of my previous posting on xpeng
nerdbull1669OP MonkeyGee: thanks follow you, will look through your posts on XPeng