NIO SETUP LONGNYSE:NIO
NIO is thriving despite a faltering Chinese economy.
It has good recent earnings and is competing well with TSLA
and other Chinese EV's like XPEV In the meanwhile it
is making inroads in Europe, especially Scandanavia
They say buy low ( weakness) and sell high ( strength(.
NIO is weak right now as the chart shows. with price
below the cloud now sitting on an advance buy order
support with a low RSI. This is a buying opportunity
As ab aside BIO is said to be seeking a partnership
arrangement with a US Domestic EV company. Should
it find such agreement, it fundamentals likely would
get another uptick.
