Xpeng stock forecast: Analysts rate XPEV as a ‘strong buy,’ estimating a 52% rise

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XPeng Motors (NYSE: XPEV) finished trading on Tuesday at $36.74 up $0.15 (0.41%), but it is down $1.66 (-4.32%) over the last five days.

Shares of the Chinese electric automaker fell earlier in the week due to fears about the Chinese economy as a potential default on $300 billion debt by Chinese real estate developer Evergrande could have worldwide economic and financial market ramifications, even on the cryptocurrency market.

Recent developments have been less than encouraging: both the medium and short-term time horizons, therefore, show unfavorable signals. Over the last month, XPEV has been trading in the $36.01 – $42.50 range, which is quite wide, and it is currently trading near the lows of this range. At the moment, there is not a quality setup, although prices have been consolidating lately.

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