NIO: buy on pullback toward 70 RSI
Updated
NIO was already a great price even before its earnings report. The earnings report sent it soaring higher, but based on the earnings outlook, it still may have room to climb. I think the stock could see $5 per share soon. However, first it will probably pull back this week toward 70 RSI. I'll be buying the dip and looking for a move higher. This is a swing trade, not a buy and hold, because the company hasn't turned a profit yet.
Trade active
I picked up some shares at 3.80 and will buy more if it continues to dip.Trade closed manually
The technical analysis on this one remains solid, but I change my mind about playing it. I don't like owning a company that hasn't turned a profit, even for a swing trade.
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