$蔚来(NIO)$ $理想汽车(LI)$ $小鹏汽车(XPEV)$ $特斯拉(TSLA)$ $比亚迪(002594)$ Just a quick note to myself and not really a call on market direction. I took a quick look at Nio, Xpeng and Li Auto's price charts this US morning trading time and noted that EV counters from China have mixed performances, with Li Auto and Xpeng with slightly positive price performance whereas Nio is down almost 2% today.
Chart wise, all these counters are not unlike other chinese counters listed in US and they have to hold onto their support line if they would want to stage a reversal. If they are not able to do so, I will not be suprised that Nio, Xpeng and Li Auto would have another 20% to fall. Nio being affected adversely due to negative news arising from one accident involving its car, has indeed demonstrated much more weakness this morning. But being the largest company by market capitalisation amongst these companies, Nio may lead the price performance of these two other counters.
EV sector in US is indeed trying to get a clarity on its direction ahead though Tesla and BYD seem to demonstrate that there may still be some legs more to go for this rally in EV. But who can say for sure? At the current stage given my portfolio allocation, I do not really think I need to rush into acquiring more shares even if it is in the EV space. Who knows... If WTI oil price falls, the attractiveness of EV sector may potentially be less hot too. Until then when attractive prices arrive, I will stay on the sidelines for EV companies.
As always, this is just a quick note for me to note down my observations and quick analysis. The above should not be construed as any investment or trading advice.
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