$KNDI has entered the EV market in China by forming a joint venture with a subsidiary of China’s #1 manufacturer of passenger vehicles, Geely Holdings (GELYF) (HK.0175) to form Zhejiang Kandi Electric Vehicles Investment Co. in Zhejiang Province, China.
There are a plenty of due diligence “analyses” that cover both the pro and con of investing in $KNDI. Take your pick. I’ve picked mine and is currently long on $KNDI.
If you follow my twitter activities, you know I’ve been accumulating $KNDI since last Wednesday.
Yes, I know what you are going to say, “What? Another Chinese company? You’ve got to be kidding!”
I kid you not! (grin)
Take a look at the daily chart below:
Price has taken out the 79 SMA today as well as the upper band of the Bollinger Bands. These two breakouts combined together formed a powerful momentum in my book.
Take a look at the weekly chart below:
Look at that V-shape bounce from both the 79 SMA and 89 XMA.
Fundamentally speaking, here is a good read from someone who has done a far better job researching this company:
By all mean, read up on the comment section to learn both sides of the arguments b/w the bull and bear.
In my opinion, this is a highly speculative stock that has the potential to play catch-up to $TSLA if you’ve missed that train.
My 2 cents.