XPEV - Start of wave 3?

XPEV ended an WXY corrective move down to finish wave 2. Two scenarios can play out here:

1- The corrective wave is over and we are at the start of wave 3 that will take us to a price of 119 (the 1.618 fib extension).
2- the corrective move is going to extend into WXYXZ.. with the second X wave ending below the first.

Either way we should be waving a nice wave up..