Why this time is so different!!!(look at the evidences)
NIO was the clear front runner of EV stocks since March 2020.
For the first time since April 2020, it crossed below its 50 EMA, what makes it different this time is
1- this is the biggest correction (+37%) in price since March 2020, all 3 former connection (25-36%) were less than this time!
2-in the past 3 connections NIO passed its previous high in 30 trading days! This time 32 trading days has passed and we are 35% away a from the previous high!
I believe this time it could go down even below 30 USD/share in the coming weeks!
Moshkelgosha
For the first time since April 2020, it crossed below its 50 EMA, what makes it different this time is
1- this is the biggest correction (+37%) in price since March 2020, all 3 former connection (25-36%) were less than this time!
2-in the past 3 connections NIO passed its previous high in 30 trading days! This time 32 trading days has passed and we are 35% away a from the previous high!
I believe this time it could go down even below 30 USD/share in the coming weeks!
Moshkelgosha
Note
Please check my previous analysis of NIO on Jan 30, 2021, when it was 57..!
Note
please watch the other side of the coin: China's Gross National Income (GNI) per capita has grown more than ten-fold since 2000, reaching $10,410 in 2019. Although this is significantly lower than the $43,861 average of OECD economies, China's GNI per capita is on the high end among fellow BRICS countries. China is a wealthy country but it doesn’t mean mean it’s population is wealthy too..!
NIO tested the vehicle for thousands of miles in Yakeshi, Inner Mongolia, China to test the car's economy and performance. The production and delivery started end of June 2018. The price starts at US$65,000. The car's EV powertrain was developed by Tata Technologies.
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Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Related publications
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.