The battle of China’s electrical automobile (EV) giants heats up this week as XPeng Inc. XPEV and NIO Inc. NIO put together to disclose their third-quarter earnings.
XPeng stories after the bell on Tuesday, whereas NIO follows early Wednesday. Right here’s what the charts and improvements sign forward of those essential stories.
XPeng: AI Ambitions Meet Bullish Alerts
XPeng is driving excessive on a wave of tech innovation, unveiling the AI-defined P7+, the futuristic AEROHT flying automotive, and the Kunpeng Tremendous Electrical System boasting record-setting charging speeds.
These bulletins come as XPeng inventory developments reasonably bullish, displaying important shopping for stress.
Chart created utilizing Benzinga Professional
Learn Additionally: Xi Jinping Tells Joe Biden: China Is ‘Prepared To Work With’ Trump As Tariff Risk Looms
From a technical standpoint:
XPeng inventory trades at $13.23, above its 20-day SMA ($12.42), 50-day SMA ($11.54) and 200-day SMA ($9.01) — all bullish indicators.
Nevertheless, the inventory is under its eight-day SMA ($13.70), hinting at short-term promoting stress.
With analysts projecting a 3rd quarter income of $1.38 billion and an EPS lack of 27 cents a share, XPeng’s AI-driven technique and technical setup level to potential upside post-earnings.
NIO: Bearish Setup Regardless of Shopping for Strain
NIO’s inventory, in stark distinction, is mired in a bearish pattern.
Chart created utilizing Benzinga Professional
Buying and selling at $4.71, NIO inventory sits under all key shifting averages:
The eight-day SMA ($4.79), 20-day SMA ($5.07) and 50-day SMA ($5.55) all counsel bearish momentum.
Nonetheless, the inventory has seen shopping for stress lately, which might trace at a possible reversal if earnings impress. Analysts anticipate third-quarter income of $2.54 billion and an EPS lack of 30 cents a share.
The Verdict
XPeng’s bullish technical indicators and innovation narrative place it because the front-runner for investor consideration this week, whereas NIO’s bearish setup leaves it with extra to show.
As each firms face earnings, the battle might set the tone for the following part of China’s EV wars.
Learn Subsequent:
Picture: Shutterstock
Market Information and Information dropped at you by Benzinga APIs
© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
