Where Will The Li Auto Stock Rally End?

Shares of China electric vehicle stock Li Auto Inc. 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.

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.