ThaMoneyHunter

NIO is consolidating..

Long
NYSE:NIO   NIO INC
NIO is back to consolidation mode!

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 volatility , 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 bullish )

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 volatility throws NIO a curveball.

If you’re long stock wise, it’s a great price to buy! Simple as that!

Comments

so far nio is a great and predictable stock. hope it stays that way!
+2 Reply
Good eye on the consolidation pattern. Interested to see how the 9 ema holds, looks like that could be the bottom of the channel if we can prove support. Low vol on the pullback as well.
+1 Reply
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