NIO LongNio got beat down with the china news like many other tickers. I think it started forming a base and was holding it friday.
DO NOT enter NIO if money isn't flowing into the EV sector. Follow big money.
Entry: 40.57, 40.51 (golden box)
SL: under 40.09 (.5 fib)
Short term PTs: 47.84, 53.65
Long term: ATH, 59.17-61.86
If u need confirmation wait for a break of the dark green 1/3 trendline and get in on the retest as support
Niobullish
NIO breakout of bull flagHigh conviction trade taken, Jan 15th $25 call options 21 contracts dollar cost averaged in.
Been monitoring news and social on NIO recently, had a Chinese fivver tranlsate hundreds of Weibo messages talking about NIO, will be posting my full high conviction trade analysis in the DumbMoney.tv discord channel: dumbmoney.tv you will find it in #high-conviction-trades and #nio later this week.
Been waiting these triangles play out, and entered on a dip that converted the last one from a symmetrical triangle to a downward channel / bull flag, which just broke out this morning.
Next NIO earnings is Nov 10th. They have done over 1 million battery swaps, and the social chatter in China is highly positive.