Exactly as I stated in my last NIO post, watch for the touch points just above $41 (black arrows // see my last NIO update)
A trading range between $41-45 is a really good sign of a base forming, this is usually when I'd recommend adding this stock back onto the radar and watching for a breakout on a volume spike. Be wary however, I think if we fall below $41 we will form a new demand zone which will only make it much harder for a breakout back to $48-52. I wouldn't hold my breath, smart money doesn't have FOMO like retail traders, they just move on and park money somewhere else. I say this because smart money will make or break this coming into earnings report (I have very high expectations)
Nio has been pretty easy to predict because its 90% retail buying (contrary investing at force) and thus far I've been pretty spot on with my posts as a result, but I'd love to hear some ideas on what you guys think will happen :)
A trading range between $41-45 is a really good sign of a base forming, this is usually when I'd recommend adding this stock back onto the radar and watching for a breakout on a volume spike. Be wary however, I think if we fall below $41 we will form a new demand zone which will only make it much harder for a breakout back to $48-52. I wouldn't hold my breath, smart money doesn't have FOMO like retail traders, they just move on and park money somewhere else. I say this because smart money will make or break this coming into earnings report (I have very high expectations)
Nio has been pretty easy to predict because its 90% retail buying (contrary investing at force) and thus far I've been pretty spot on with my posts as a result, but I'd love to hear some ideas on what you guys think will happen :)
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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.