The Chinese EV sector bubble pop, coupled with the recent bill passed on the delisting of China stocks have caused significant selling pressure on NIO.
As you can see on the chart that it has formed a bullish flag pattern, do wait for bullish confirmation through technical indicators and price action. However, I would continue to add to my position here. NIO does pass regulatory requirements set by the SEC and I believe that it will not be one of the Chinese companies that will be delisted in the future.
Views are my own and should be meant for discussion purposes only, please make your own investment/trading decisions!
As you can see on the chart that it has formed a bullish flag pattern, do wait for bullish confirmation through technical indicators and price action. However, I would continue to add to my position here. NIO does pass regulatory requirements set by the SEC and I believe that it will not be one of the Chinese companies that will be delisted in the future.
Views are my own and should be meant for discussion purposes only, please make your own investment/trading decisions!
Comment:
Since the bull-flag and a test of the $38-$40 level multiple times, NIO has steadily made its way up to create all time highs today. Watch out for NIO day tomorrow on the 9th Jan! Really excited and I can't wait to see how NIO trades on the coming Monday!