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- 1 The LI Share price shows the presence of buyers in recent times.
- 2 The share price of Li Auto Inc. has advanced by 1.53% in the last trading session.
Li Auto Inc. has its headquarters in Beijing. It is a Chinese electric vehicle manufacturer having its facilities in Changzhou. The company was created by Xi Lang in 2015.
The company has vehicle engineering, manufacturing, and designing plants located in Changzhou Jiangsu Province. The company also has corporate headquarters and research and development centers located in Beijing. Li Auto got listed in the Nasdaq exchange in 2020.
The LI share has a beta value of 0.67. That means the Li Auto share price moves less than the market as a whole and stays stable for most of the times. The company has more than 19K employees. The current CEO of the company is Xiang Li. Li Auto does not pay any dividends to its shareholders.
The LI stock is trading in the market with an average volume of 6.528 Million. Li Auto has a market cap of $33.947 Billion. Also, the net cash at the company has advanced by 54%, resulting in $8.57B as of Q2 2023. The inventory of the company has also advanced by 6.3%.
LI Auto Inc. Stock Performance Analysis
LI Auto made a total revenue of $6.73B out of which the company made a gross profit of 19%. It followed with a net income of -4.44%, which means the company made a loss of $298.83M in the year 2022. The company’s debt has also advanced from $1.59B in 2021 to $1.76B in 2022.
Price Targets for LI Stock
Based upon the experts analysis, the LI share is expected to go up to $72.19. It is an increase of +105.27% from the current trading levels. The maximum decline is expected up to $34.92, which is only 0.71% below the CMP.
LI Stock Technical Analysis
LI stock price is trading inside a falling wedge pattern. The stock price is taking rejection from the lower band of the pattern. The Li Auto share is making bullish candlesticks on the charts. The following behavior of the stock price indicates the presence of buyers in the market.
The EMAs for the Li Auto are trading in a golden cross. Li share price is currently trading between the band of 50-day and the 200-day EMAs. If the share price breaks above the 50-day EMA on the upper side, we might get to see further continuation in the uptrend.
The RSI for the LI share does not show any signs of bullishness. The RSI is certainly trading below the 50-level and is also below the 14-day SMA line. It is travelling through the overbought zones. Therefore if the RSI breaks above the 50-level. It can result in an uptrend.
Conclusion
The analysts are bullish on the stock. Li Auto’s finances have also been improving over the year with increase in revenue. The Li Auto share price is currently trading inside a falling wedge pattern. LI stock’s price is also making bullish candlesticks while the EMAs are in a golden cross. The RSI of the LI stock is also following an uptrend cycle.
Therefore, if the LI share price breaks above the falling wedge pattern, we can see a robust upward movement in the stock price soon.
Technical Levels
- Support levels for the LI share are – $28.00 and $33.50
- Resistance levels for the LI share are – $40.00 and $47.30
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
