NIO looks oversold - good long opportunity?

NIO Inc.NYSE

Description

⋅ Apr 15, 2019 11:13 PM

1 minute ago
NIO - A Chinese electric vehicle manufacture.

Beyond that, I don't know anything on this company's fundamentals.

I picked up 500 shares at $4.75 based purely on technical s. (Namely, that NIO appears very oversold)

Also picked up some $4.50 calls expiring 4/26/19... figured, why not?

Price target of $5.50 to $6

Comment

⋅ Apr 16, 2019 4:00 PM

Price is down another 5% today. Picked up another 500 shares at $4.51.

Indicators show a rise is coming.

Comment

⋅ May 10, 2019 6:15 AM

Meant to update this. Sold my 1000 shares and calls at $5 and bought puts back on April 24 or so. Good luck! NIO is going to sub $3

Trend Analysis NIO