Nio is in no doubt a rocket based on speculation, which automatically makes it a stock for gamblers. Though one can argue that Nio, Chinese electric car manufacture, is a potentiel opponent to Tesla on the Asian market which makes it an interesting long term investment for a certain group of investors.
In this analysis i have chosen to focus on the technical development of the stock and put aside the fundamental aspects of the company.
Technically speaking the stock is in an interesting trend. It has just returned to a newly formed support line and is now trying to take up the battle with the former top. In the next couple of days or month i see one of three scenarios happening. Which is what the arrow i have drawn on the graph represents.
Interestingly enough they all end in a continues positive trend.
In this analysis i have chosen to focus on the technical development of the stock and put aside the fundamental aspects of the company.
Technically speaking the stock is in an interesting trend. It has just returned to a newly formed support line and is now trying to take up the battle with the former top. In the next couple of days or month i see one of three scenarios happening. Which is what the arrow i have drawn on the graph represents.
Interestingly enough they all end in a continues positive trend.