danielgwatkin

NIO still has strength on Daily

Long
NYSE:NIO   NIO Inc.
Hello Traders Just a quick chart to show NIO, China’s electric car company still has juice in the tank and could reach previous highs. With possible funding, ( not confirmed) that has been spoken about by numerous analysts from GAC car manufacturer in Guangzhou as mostly negatively has not deterred the bullish momentum. Something that could be having a positive effect is the recent release of Tesla’s model 3 in China, still working out this connection but just the fact that electric cars in the country are having a huge boost with model 3 production there could be the sole reason. But the other fact is for the last two earns reports, NIO has beaten the estimates by almost 90% in both cases. Yes the company is in massive debt but if they do get help through this period and start to make money which seems to be the case, then this stock will only go in one direction. For a relatively small amount, investors could get in on the ground floor depending on their amount of risk tolerance they want to allow in their portfolio.
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