XPEV has already given a hint and direction along with BABA plus China's stimulus. Also, thanks to Trump's tariffs, people bet on China.
NIO is going to post positive earnings and FY2024 results.
I expect the price to take a leap step towards $6 with a resistance of $7.29.
Split the trades as my entries are 4.5-5. Sell the resistance.
NIO is going to post positive earnings and FY2024 results.
I expect the price to take a leap step towards $6 with a resistance of $7.29.
Split the trades as my entries are 4.5-5. Sell the resistance.
Note
Latest ReleaseNov 20, 2024
EPS / Forecast
-2.14 / -1.92
Revenue / Forecast
18.67B / 19.05B
A surprise of about 2% in revenue hence the price adjusts as people take a negative view of EPS. Company is selling more cars compared to an year ago. Full FY2024 to come but lets wait!
I think stock has bottomed here between $3 to $4 and we should see $6 this year.
Note
Time to zoom-in, NIO Is on the way to 40% increase from here, 6+ is the target. Bottomed very likely.Note
NIO's monthly bottoming process is showing slow buying pressure. The bullish pinbar is evident near support - buyers' interest. Once tariffs settle, this is going to hit $6
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.