Geckie

Nio - Something seems familiar

NYSE:NIO   NIO Inc
After Nio's sudden hard drop yesterday it regained its momentum and went back up.
Nio at the moment is in a slight downward trend but it could do one last rise before falling down. Don't get me wrong I believe in Nio in the long term, but its stock is not looking too bright at the moment, for any swing traders Nio seems like a very interesting play right now.

My thoughts and analysis on this are that it could head over to the $41 range again before dropping (if it doesn't break out) or it could have resistance around the $36 range and go down to $27. Although either way if Nio doesn't break out of the $41-$45 range then a drop to the mid $25's is very probable which also might be an excellent buying opportunity.
Nio is at a very crucial point where its price is being decided, be very careful with your trades, scale out, put stop losses if you are in Nio , staying Neutral in Nio but going for a small swing long trade. Good luck!

I am not a financial advisor, do your own research before going in.

Comments