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$NIO optimal entry (republishing)Republishing after removing link Hello fellow traders. The past couple of weeks have been very volatile but I don't think we are heading to a bear market. That said, a lot of growths stocks were beaten down pretty hard already. EV stocks are taking a hard hit but if we look at the broader picture I think this is a good opportunity to start a position or add to if you are already in. One of such cases is NIO . BEARISH SHORT TERM OUTLOOK Nio's price fell pretty hard (about 11%) after yesterday's earnings and broke below the 100ema for the third time in the timespan of 6 days. During trading hours we came very close to the 0 fib level, which served as support on last week's selloff. Additionally, the 14ema crossed the 21ema bearish , which hasn't happened since the March 2020 crash. It is currently crossing the 50ema. WHY THIS MAY BE A GOOD ENTRY In addition to last week, that fib level has been tested as support multiple times the past few months so we can use it as a pretty reliable anchor point to start a trade. The RSI is close to oversold and is showing hidden bullish divergence with price. If you are a long term investor, you may look at current price as a 35% "discount" from ATH . I know it is counter intuitive to buy something that is losing value but if you could buy a pair of shoes with 35% I bet you would be happy. The only caveat with stocks is that you need to be confident the company has a bright future, which is the case of NIO in my opinion. The average price target is $68.26 and investors are very positive on Nio's 2021 Q1 results (despite worse than estimated 2020 Q4 earnings ). HOW TO TRADE Long term investors: just keep dollar cost averaging. I like to buy more on dips and pullbacks than rallies but that is my personal preference. You can keep buying the same amount as before. Traders: you can enter now and place a stop loss below the 0 fib level on the daily. If your stop is triggered you can always buy back in if the price bounces back above that fib level. (This is also true for long term investors who want to be more conservative). Safe trades and good luck! ===If you get anything out of this TA, please hit the like button and/or follow for updates and new publications.=== ***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
NYSE:NIO
by Safe_Trades
2
$NIO optimal entryHello fellow traders. The past couple of weeks have been very volatile but I don't think we are heading to a bear market. That said, a lot of growths stocks were beaten down pretty hard already. EV stocks are taking a hard hit but if we look at the broader picture I think this is a good opportunity to start a position or add to if you are already in. One of such cases is NIO. BEARISH SHORT TERM OUTLOOK Nio's price fell pretty hard (about 11%) after yesterday's earnings and broke below the 100ema for the third time in the timespan of 6 days. During trading hours we came very close to the 0 fib level, which served as support on last week's selloff. Additionally, the 14ema crossed the 21ema bearish, which hasn't happened since the March 2020 crash. It is currently crossing the 50ema. WHY THIS MAY BE A GOOD ENTRY In addition to last week, that fib level has been tested as support multiple times the past few months so we can use it as a pretty reliable anchor point to start a trade. The RSI is close to oversold and is showing hidden bullish divergence with price. If you are a long term investor, you may look at current price as a 35% "discount" from ATH. I know it is counter intuitive to buy something that is losing value but if you could buy a pair of shoes with 35% I bet you would be happy. The only caveat with stocks is that you need to be confident the company has a bright future, which is the case of NIO in my opinion. The average price target is $68.26 (www.tipranks.com) and investors are very positive on Nio's 2021 Q1 results (despite worse than estimated 2020 Q4 earnings). HOW TO TRADE Long term investors: just keep dollar cost averaging. I like to buy more on dips and pullbacks than rallies but that is my personal preference. You can keep buying the same amount as before. Traders: you can enter now and place a stop loss below the 0 fib level on the daily. If your stop is triggered you can always buy back in if the price bounces back above that fib level. (This is also true for long term investors who want to be more conservative). Safe trades and good luck! ===If you get anything out of this TA, please hit the like button and/or follow for updates and new publications.=== ***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
NYSE:NIO
by Safe_Trades
12
NIO potential CUP & HANDLEGood afternoon young padawans of the markets. I hope everybody is doing well despite the world around us these days. It is time to discuss NIO. The stock soared to ATH after NIO day last Saturday ((I fell like every stock I write about is at ATH. Well, we can worry about that later). NIO has been a beast since late 2019. I am glad I got in early, with an average buy price of $13.5 but I wish I had gotten in earlier when I first noticed it around March/April, at which time it was trading under $3. That's right $3 dollars. Anyway, this one I am keeping for my long term portfolio but like TESLA, I am also taking advantage of the big swings and trading some shares when the opportunity arises. CUP & HANDLE It seems like another buying opportunity may be presenting itself in the horizon. It looks like NIO is printing a CUP & HANDLE pattern on the daily chart. As you may know, in general the longer patterns take to form the stronger they are. A C&H on the weekly chart would be stronger than one formed on the daily, and the target would most likely be higher. However, C&H on the daily chart are also very reliable formations. All that said, the C&H is not confirmed at this point since it can take a few more days to complete the handle portion of it. We may also have a fast downside or upside move outside the handle area, which would most likely invalidate the pattern. It is unlikely but it can happen. Additionally, even if the C&H forms it doesn't need to breakout necessarily although that is the bias. In any case, you should keep this on your watch. OTHER TECHNICALS Further downside move is corroborated by: 1. bearish divergence between price and RSI 2. MACD starting to curl down 3. RSI itself moving down (thus forming the divergence) 4. ADX moving up while the price moves down (ADX is a trend indicator--if price is going down and ADX up it means a downtrend may be about to start) 5. -DI curling up while +DI curls down, showing that it may be time to short or close positions (still in its beginning but moving fast) 6. There are two consecutive gaps, a clear result of the euphoria around NIO day. These are breakaway gaps, which more often than not are filled 7. NIO moved away from the emas a little too quickly when compared to previous rallies. That is ok but I believe that when we add all these indicators together it makes sense that NIO would pullback in the short term and catch up with the 14-ema and 21-ema. 8. the first breakaway gap happened right on what was then resistance for four consecutive days recently and five consecutive days in the beginning of the cup formation. It was on that resistance that the price was sent down. Additionally, the 14-ema and 21-ema are moving close to that resistance. It would make sense that that level is now tested as support. WRAPPING UP Now these are the strong technicals that provide enough foundation to believe further downside is about to happen but as I always say, it doesn't mean that the price has to go down and the C&H has to form. This is just the bias. Although there is an overall bearish outlook people may still feel this is a good time to buy and the price can start going up again. This has happened a lot lately, specially in the EV ecosystem. All that said, if this setup plays out I am a buyer around the $55 mark depending on how the price reacts if/when we get there. The textbook way of doing it is to wait a break and close above the top line of the handle but I want to get most of the move so I will buy the $55 support if it holds. If the price continues down I will dollar cost average my way down since I am already in it. If the setup plays out it could take a little while to reach the C&H target, so be patient. I know that was a lot my dear padawans but I hope you learned something useful for this trade and future trades. Share the love: If you get anything out of this TA, please like the chart so it moves up and others can benefit from my work. A simple click on the like button goes a long ways. Follow for more: I have an outstanding winning rate (check my other charts). If you want the best entry/exits just follow me, you won't regret. Thanks a lot! ***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
NYSE:NIO
by Safe_Trades
8