Long NIO at $7.10 - LOWER risk trade (not low risk)

2024년 1월 12일

The chart is fairly self-explanatory. We have a huge amount of support at the ~7.00 level. The descending trendline may keep us from breaking out much past the $8 mark. And it could do a full round trip back to supply at $7.

EV has been crushed and this may be a good opportunity for a lower (NOT LOW RISK) trade with a safe stop.

2024년 1월 12일

노트

You can see we do have a very large gap in the chart (yellow dashed line) between $9.59 and $10.23), which could be a good upside target if we break out of this triangle to the upside.

2024년 1월 16일

노트

ouch, china weakness smacked us, hard. See updated possible pattern and support. Notice we may be in a descending wedge that looks to terminate near a key support level of $5.40. See volume gap and then support. Also note support back to 2018-2020, at this level.

2024년 1월 19일

노트

well this isn't great. Price recovered and then bounced off that trendline and is now resistance. See here:

2024년 1월 23일

노트

NIO coming back up to that lower trendline/resistance in Premarket. If we fail here, again, i suspect we are going much lower. Everything China is up, today, based on stimulus talks, but that may not last.

2024년 1월 23일

노트

There is a serious battle for that trendline! Keep an eye on it.

2024년 1월 30일

노트

The trendline battle was lost to the downside. Here's my best guess at what will happen next.

2024년 2월 12일

노트

Hello, looks like this is playing out, as expected. We're coming back at that line of resistance. It look like a good play for a move to the $7 mark, if we can take it and hold.

2024년 2월 15일

노트

Hello, friends. Here's a bit of a micro-level update on NIO. we're in what I think is an up channel. If the white channel holds, it's back to test that descending trendline. You can see we could break out and test that $5.40 level, again. One thing to be aware of is there is some downside risk way down on the lower trend, if things take a turn for the worse. so keep an eye on these levels.

2024년 3월 12일

노트

We've been at this trendline, before. It doesn't look good for a quick break, when I look at momentum. Perhaps a pullback and another attempt. However, we did finally get over that 6.20 level, and I would like to see that hold.