Is this the turning point for NIO?
Updated
NIO earnings are this Friday 9th June
- Positive Divergence
- OBV breaking upward potential
- As per prior post, we are in half way into the long
term buy zone. Long term accumulation can
commence for long term investors.
- Price could drop as low as $6 however there is no
guarantee, and with the positive divergence there
is a trade to be considered to the upside with
earnings on the agenda this Friday.
- Stop Loss at June 1st low somewhere between
$7.00 - $7.42 depending on risk tolerance.
- Positive Divergence
- OBV breaking upward potential
- As per prior post, we are in half way into the long
term buy zone. Long term accumulation can
commence for long term investors.
- Price could drop as low as $6 however there is no
guarantee, and with the positive divergence there
is a trade to be considered to the upside with
earnings on the agenda this Friday.
- Stop Loss at June 1st low somewhere between
$7.00 - $7.42 depending on risk tolerance.
Trade active
Well a nice 28% increase since the last NIO post using positive divergence and break of OBV resistance. We were also aware of the earnings report. I used this trade to capitalize on my long term DCA into NIO and significantly lowered my average buy in price. I have a long term view on NIO which can be reviewed on the prior post or on trading view. Regardless, you could have capitalized on this trade short term too, if that was your preference.
Trade active
NIO hopefully building a base out of the orangeTrade active
- In 43%+ profit- Perfect RSI Positive Divergence play
- Now above 200 day SMA (very positive)
- Next resistance is at $13.70 (another 26%)
- NIO's all time high is $66.85 which is c. 500% from
current price.
This is a long term trade but will manage on the way and at some stage will withdraw original stake to ensure profitable position. Trading view also updated.
I will keep you posted
PUKA
Note
How good is this chart looking... did we catch the bottom?Note
NIO continues to perform - 70%+ in profit now
- All from an RSI Positive Divergence play
- We are now well above the 200 day SMA
- The green target zone is the next resistance.
- The top of that zone if the 1.618 fib ext
WHAT A TRADE
Note
NIO has just hit the 1.618 Fib Extension at $15.00 resulting in a 94% profit over 34 days since I first sharedWhilst I am in this trade for the long term, we are overbought on the daily and weekly...and this looks like it might be a spinning top. I would not be surprised to see some profit taking here.
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