NIO's stock price has recently shown signs of a reversal around the critical 200-day moving average (MA), indicating a potential trend change and presenting attractive entry levels for investors. The stock appears poised for upward movement, with short-term targets at $12, $13.8, and $14.7 then we will update.
However, it's worth noting that NIO's earnings report is due tomorrow, introducing an element of volatility that could impact the stock's performance. Therefore, cautious investors may choose to wait for the earnings results before taking a position.
Personally, I've been holding long calls on NIO for an extended period and remain bullish on the company's long-term prospects.
Investor sentiment seems to be turning positive, but as always, perform your own due diligence and consult financial advisors before making any investment decisions.
Good luck and all the best in your trading journey!
Note: This is not financial advice, and investors should conduct their own research and consult professionals before making any investment decisions.
Trade closed: stop reached