In my personal opinion in base of my study, I think NIO have a strong uptrend and currently is consolidating the stock price. We can see yesterday (July 8th 2020) dip to 11.90 and bulls didn't let the price fell more and that candle closed at $12.65.
That movement is letting me know again that bulls are in control over here. Right now it can consolidate for a while or maybe move back to $12 range. But I think that there is a big tendency of moving above $14 again. The stock Still above the SMA200 and already cooled down the RSI.
***Remember***
This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell at your own risk.
That movement is letting me know again that bulls are in control over here. Right now it can consolidate for a while or maybe move back to $12 range. But I think that there is a big tendency of moving above $14 again. The stock Still above the SMA200 and already cooled down the RSI.
***Remember***
This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell at your own risk.
Trade closed: target reached:
Study was successful , I still holding my position at $3.29 and I'm Long Term on NIO ($350.00 PT or 10 Years Investment). I will keep doing some new chart studies as soon I get more data from the chart.
***Remember***
This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell at your own risk.
***Remember***
This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell at your own risk.