this look like a continuation bear pennant, either way the breakout could came in both ways, either to a 6-7 buy point or 15 as 1stPT; look for breakout and confirmation to trade in either case.
Both plays are in order, but a bullish play in the mid - long therm is feasible driven by a bullish divergence .
If it goes up.-
takes profit at the Target price
If it goes down.-
op 1- set a stop loss and buy again in the 2nd bottom.
op 2- buy and leave cash for a second buy in the 2nd bottom.
Today it gets confirmed a fake bear breakout, therefore it is possible to find a good entry point for a bullish swing trade with 3 possibles PT in the short-mid term.
With at least 3 PT in short term, company expansion/growth around the corner and so close to breaking the weekly downtrend NIO has a great bull trade/invest case for short, medium and long term, best possible price between 12-18 zone.
