As you see on the chart we saw
1. The first huge climb from 17-22
2. The consolidation for a few days
3. The breakout from 21-29 and change
I think based on this chart that NIO will trade sideways for a bit and if there’s no Washington style take down of the markets with no stimulus passing or any election related , NIO will pop once more toward that 30-35 maybe even 40 level!
Currently the PT for NIO is between 32-40 set by JPM and BAC . Analysts predict that NIOs future PT is way above the 300 level. (Super )
I’m excited on seeing NIO stock unfold! Let’s see how this unfolds!
Last but not least: I would avoid calls or puts for the time being as I forecast a sideways action remainder of this week at least. If you were to want to go in right now I would look for end of Nov expirations. I would also cover my calls with puts in case election throws NIO a curveball.
If you’re long stock wise, it’s a great price to buy! Simple as that!