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.
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.