NIO Bearish
Looking at the current structure of NIO's chart, I believe ts safe to say that NIO is bearish in the very near future. I do not have any type of fundamental reasons why I tink NIO is bearish but I basically follow what the charts telling me. For this reason, If NIO does break $10.56 I will buy some puts on it. At some point the gaps will fill if it breaks $10.56 and ultimately I believe NIO will head to $5.90 'ish level. All that being said, I will be looking at the structure and price action around key levels to ride it back up. I believe NIO is here to stay and although, a lot of people dont believe in Chinese stocks, Im just here for the money making opportunities and I will trade whatever will make me the money.
SegantAD
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