Technical Analysis – 20 March 2024

Shares closed at a higher above the 20dEMA with a surge in volume. 5dEMA is about to cross the 200dEMA.
MACD is about to turn positive, RSI is turning constructive.
Long – Entry 18.0, Target 20.0, Stop 17.0

Shares closed at a high since Oct 2023 with constructive volume. 50dEMA is about to cross the 200dEMA.
MACD is positive, RSI is at an overbought level.
Long – Entry 0.360, Target 0.400, Stop 0.340

Shares closed at a high since Nov 2023 with a constructive in volume. 20dEMA just crossed the 50dEMA.
MACD is positive, while RSI is constructive.
Long – Entry 4.85, Target 5.45, Stop 4.55

Shares closed higher above the 5dEMA with a surge in volume. 20dEMA recently crossed the 50dEMA.
MACD is positive, RSI is at an overbought level.
Long – Entry 6.80, Target 7.50, Stop 6.45

Xpeng (XPEV)

4Q23 Revenue: $1.84B, +153.9% YoY, beat estimates by $90M
4Q23 GAAP EPS: –$0.28, beat estimates by $0.14
1Q24 Guidance: Deliveries of vehicles are expected to be between 21,000 and 22,500, representing a YoY increase of approximately 15.2% to 23.4%; Total revenue is expected to be between RMB5.8bn and RMB6.2bn representing a YoY increase of approximately 43.8% to 53.7%.
Comment: Xpeng Inc. surpassed expectations with its recent financial results, yet it provided a cautious outlook on electric vehicle (EV) deliveries, with analysts projecting around 25,000 deliveries in the first quarter of 2024. Despite delivering 60,158 vehicles in the quarter, a significant increase from 22,204 in the fourth quarter of 2022, the company faced pressure on its profit margins due to heightened competition on pricing. Nonetheless, Xpeng remains committed to its strategy, aiming to introduce 10 new models within the next three years and expand into more international markets. To address the demand slowdown attributed to the ongoing price war, the company announced plans to launch affordable EV brands. This strategy contrasts with those of its EV rivals, who are focused on cost reduction amid the intensifying EV price war in China. The escalation of this price war may further impact Xpeng’s profit margin in the first quarter of 2024. 1Q24 recommended trading range: $8 to $13. Neutral Outlook.

小鹏汽车(XPEV)

23财年第四季营收：18.4亿美元，同比增幅153.9%，超预期9,000万美元
23财年第四季GAAP每股亏损：0.28美元，超预期0.14美元
24财年第一季指引：汽车交付量预计在21,000辆至22,500辆之间，同比增长约15.2%至23.4%；总收入预计在58亿元至62亿元之间，同比增长约43.8%至53.7%。
短评：小鹏汽车最近的财务业绩超出了预期，但该公司对电动汽车的交付量持谨慎态度，分析师预计2024年第一季度的交付量约为2.5万辆。尽管该季度交付了60158辆汽车，比2022年第四季度的22204辆大幅增加，但由于价格竞争加剧，该公司的利润率面临压力。尽管如此，小鹏仍然致力于其战略，目标是在未来三年内推出10款新车型，并扩展到更多的国际市场。为了解决由于持续的价格战导致的需求放缓，该公司宣布计划推出价格合理的电动汽车品牌。这与在中国电动汽车价格战愈演愈烈的情况下，专注于降低成本的竞争对手形成了鲜明对比。这场价格战的升级可能会进一步影响小鹏2024年第一季度的利润率。24财年第一季度建议交易区间：8美至13美元。中性前景。