Shares of China electric vehicle stock Li Auto Inc. (NASDAQ:LI) are soaring almost 10% today. There doesn’t appear to be any fundamental news driving the move. This means if they reach levels around $36.50, there’s a good chance they run into resistance.
This could pause or even halt the rally.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
In January, Li Auto reached $36.50. Then sellers overpowered the buyers and pushed it lower. The same thing happened again at the end of June.
There’s a good chance there will be resistance if Li Auto reaches this important level once more. There may be sellers who missed it the last time, but have been patiently waiting at the level since. The resistance this group of sell orders forms could keep a top on the price.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.