NIO Inc.Long
NIO: Taking shape to advance higher
NIO: 45.68
ATR: 2.10, Beta: 2.54
Key Levels: 43.84, 45.36, 48.83, 53.34
Trade Idea: NIO is poised for an uptrend:
1. A series of higher highs and lower lows before reclaiming/maintaining > 20MA again
2. Price action is >200MA again since February
3. Bullish engulfing on D
4. Price action > 44.98 (POC of Volume Profile) 5. Catalyst: Announced increased production capacity by 2x via 2nd factory plans, EV interest
Look for:
1.Support over critical areas: POC, 200MA, and marked KL's
2. International policy/economic news that can affect ADRs
3. Capital transition back to EV's
4. Upcoming events:
- June 16, 2021: Virtual Deutsche Bank Global Auto Industry Conference
-August, 2021: Q2 ER
ATR: 2.10, Beta: 2.54
Key Levels: 43.84, 45.36, 48.83, 53.34
Trade Idea: NIO is poised for an uptrend:
1. A series of higher highs and lower lows before reclaiming/maintaining > 20MA again
2. Price action is >200MA again since February
3. Bullish engulfing on D
4. Price action > 44.98 (POC of Volume Profile) 5. Catalyst: Announced increased production capacity by 2x via 2nd factory plans, EV interest
Look for:
1.Support over critical areas: POC, 200MA, and marked KL's
2. International policy/economic news that can affect ADRs
3. Capital transition back to EV's
4. Upcoming events:
- June 16, 2021: Virtual Deutsche Bank Global Auto Industry Conference
-August, 2021: Q2 ER
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