NIO 1D
33-36$ Can be a good entry point for long term investors. Keep in mind NIO had bad news with having to close down it's factories for 5 days due to the chip shortage. NIO is not the only company affected by this chip shortage. It will be a short term issue, but I don't see it being a long term issue. Earnings for NIO will not be great until Fall 2021 and early into 2022 where it should so some signs of growth so this company is still a lot of speculation. If you want to long term invest in it, and not have an entry yet I believe right now is a good entry to have a starter position.
We seemed to have double bottom at my PT of 35$ before another move up. Also holding the 200 EMA.
If you are looking for a trade don't give a lot of margin, around 32$ for your stop loss. My first PT would be 45$ next strong area of resistance.
If 200 MA is not held, next intermediate stop for me is around 29.5$ then 25$ and the massive is on 23$ bullish gap.
We seemed to have double bottom at my PT of 35$ before another move up. Also holding the 200 EMA.
If you are looking for a trade don't give a lot of margin, around 32$ for your stop loss. My first PT would be 45$ next strong area of resistance.
If 200 MA is not held, next intermediate stop for me is around 29.5$ then 25$ and the massive is on 23$ bullish gap.
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