Auto

Resistance

Million

April

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>LI stock price showed retracement and dragged below the support zone of $40.</a> </li> 
 <li> <span>2</span> <a>Buyers have lost momentum and are unwinding the long positions, indicating the selling pressure.</a> </li> 
</ul> 
<p>Li Auto Inc. (NASDAQ: LI) LI stock price has stayed in a range and is heading toward the 200-day EMA, showing profit booking in the past trading sessions. Furthermore, the chart shows sellers were willing to break the immediate support zone of $30 and are likely to initiate a follow-on selloff. However, buyers are trying their best to hold LI stock in a range and are attempting a pullback to retain the 100-day EMA zone. Furthermore, the price action shows the incisiveness between the bulls and the bears, showing a strong battle to be watched in the following sessions.&nbsp;</p> 
<p>Li Auto Inc. (LI stock) price is trading in a narrow range, and buyers are looking to fill the gap near $37, which has yet to be filled. Moreover, the trajectory swing of $30 is the strong support zone close to the 200-day EMA. Per the options chain, at the strike price of $36, a massive open interest of 213 hundred shares on the call side, whereas 209 hundred shares on the put side, shows equal interest and incisiveness. However, $35 is the region that is not easy to break for the beard, and a rebound can be anticipated toward $38, followed by $40.</p> 
<p>At the press time, LI stock price is trading at $35.01 with an intraday gain of 2.40%, showing neutrality on the charts. Moreover, the trading volume remained average at 3.890 Million and the market cap is $34.253 Billion. However, Analysts have maintained a buy rating with a yearly target price of $53.38, which suggests a growth outlook for the following sessions.</p> 
<p>Li Auto, Inc. is a holding company that designs, develops, manufactures, and sells electric vehicles. Its product, Li ONE, is a large electric sport utility vehicle equipped with a range extension system and smart vehicle solutions. The company was founded by Xiang Li in April 2015 and is headquartered in Beijing, China.</p> 
<h2 class="wp-block-heading" id="strong-will-li-stock-surpass-the-immediate-hurdle-of-40-strong"><strong>Will LI Stock Surpass The Immediate Hurdle of $40?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="481" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241-1024x481.png" alt="" class="wp-image-174684" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241-1140x536.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-241.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: LI Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, LI stock price is trading close to the neutral region and is below the 100-day EMA, showing a mild negative outlook. However, LI share price is trading near the strong support zone, and buyers are holding the gains decisively while attempting a pullback to regain momentum. Furthermore, the LI stock price is trading above the 50% Fibonacci retracement zone, showing neutrality on the charts.</p> 
<p>The RSI curve stayed below neutrality and showed a bearish divergence, indicating a reversal on the charts.The MACD indicator showed a bearish crossover and formed red bars on the histogram, suggesting a volatile chart structure.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/08/biogen-inc-biib-stock-breaks-out-will-biib-reach-300/" target="_blank" rel="noreferrer noopener">LI stock price </a>is trading close to the 100-day EMA and is trying to retain the swing barrier of $40 to regain momentum. However, buyers and sellers showed equal interest and willingness to win the ongoing battle, which resulted in hanging the stock in the congestion zone below $40.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $30 and $25</p> 
<p>Resistance Levels: $40 and $45</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

LI Stock Price Dragged Below 100-Day EMA, Will Bulls Hold Gains?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 9, 2023

Hong Kong police warn of Binance impersonation scam

Hottest Cryptocurrencies Tipped for Massive Gains in 2023 – Stacks, Tradecurve Markets, Aave

Empowering Decentralized Finance With DIDs: Exploring Their Role And Benefits

Shariah-Compliant Islamic Coin Announces KuCoin Listing On 10 October

Today’s Crypto Prices: Bitcoin Down; Pepe Coin and BNT Up

What is Happening in the Bitcoin Market?

Join our free newsletter for daily crypto updates!