Investors may want to keep an eye on XPeng (XPEV).

After plummeting from about $34 to $12.86, the electric vehicle stock is starting to show signs of life again.  It’s also oversold on RSI, MACD, and Williams’ %R.  Helping, co-founder and CEO Xiaopeng bought 2.2 million ADRs, on the open market through a holding company.

“The declines in XPeng stock have left the shares trading at a discount to its rivals. XPeng stock is trading for roughly 1.2 times estimated 2023 sales, while NIO and Li are changing hands for 1.8 times and 1.5 times, respectively. None of the three are consistently profitable yet, making sales-based valuation multiples useful for comparison,” says Barron’s.

Plus, we have to consider the XPEV stock has been down even with impressive delivery numbers. In August, for example, the company delivered 90,000 vehicles year to date, up about 96% year over year.  Meanwhile, NIO delivered about 72,000, as Li Auto delivered 75,000.

XPEV last traded at $14.60 on a volume spike to 24.5 million shares, as compared to daily average volume of about 13.1 million shares. We should also note the last time XPEV became this oversold on RSI, MACD, and Williams’ %R, the XPEV stock jumped from $22.62 to $31.68.