Xpeng stock price is facing strong bearish pressure on the daily technical charts, as it is trading below the 100 and 200-day EMA. However, despite several attempts by the buyers, the stock has failed to break above its key resistance levels near the EMAs in the past few months.
The stock is currently trading near $13.42, with a marginal loss of 1.54% in the intraday session. The stock has a potential upside target of $20, but it needs to overcome the bearish momentum and surge above the 200-day EMA. The stock has a support level of $12.00, which could prevent further downside.
Xpeng price prediction suggests that the stock is in the firm grip of the bears and needs to show some signs of reversal before confirming a bullish trend.
The technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone whereas the major EMA lines are acting as barrier points for XPEV price.
The company’s performance has been dismal in recent times as it gave a negative return of 17.57%, 14.19% in a month, and 10.23% in 3 months. However, the performance is good rest of the year as it gave 54.08% in the last 6 months and 26.25% return year-to-date.
Technical Analysis of Xpeng Stock Price in 1-D Timeframe
Xpeng Inc. stock (NASDAQ: XPEV) is trading under the 50 and 200-day DMAs (daily moving averages), which are not upholding the price trend. The current value of RSI is 30.08 points. The 14 SMA is above the median line at 43.34 points, indicating that the Xpeng stock is bearish.
The MACD line at -0.8722 and the signal line at -0.4514 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the XPEV stock price.
Weekly-Time Horizon Analysis
The weekly charts of Xpeng stock reveal that the sellers have been dominant. The stock has been on a downward trend, as it has broken below the key EMAs. The technical indicators also confirm the bearish sentiment, as the RSI is near the oversold zone at 38 and the MACD has formed red bars and a bearish crossover. These signals indicate that the stock may face more downside pressure in the coming weeks.
Summary
Xpeng Inc. (NASDAQ: XPEV) technical oscillators also support the bearish trend. The MACD, RSI, and EMA emphasize negative signs and imply that the downtrend may continue in the XPEV stock price. Xpeng Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
Support Levels: $12.00 and $10.00
Resistance levels: $14.78 and $15.43.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/10/23/xpeng-stock-will-xpev-stock-price-break-below-12-level/