As I have been saying the past couple of weeks, after the hammer candle on the weekly chart and the close with a bullish candle last week, LI was poised to go higher. I have made good money trading the support and resistance all along as you can see from my previous charts and updates. I have accumulated a very good amount at an average price of $33.33, which would put me in a very good position if we keep rallying. That is why we buy the technicals when a stock finds support and wait patiently for these rallies. If you are not in yet, wait for a re-test of the strong $37 resistance. If LI is able to close above, you can buy and place a stop loss strategically below the $37 so you minimize your risks. Buying now would be FOMO in my opinion because there is nothing to anchor your entry against. Now to the moon!
Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
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Li about to retest the $47 resistance. Watching closely:
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We were kicked down again, but the trend may be about to begin according to ADX. Let's be patient now:
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I actually added a few more shares on support.
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$35 holding strong:
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Potential bull flag forming, just like XPEV:
