JMETZLER1

Start your engines....figuratively speaking!

Long
NYSE:NIO   NIO INC
622 views
16
A very nice ascending pennant over the last month. Lets get a nice pop to previous highs of 16+ tomorrow or early next week. Happy trading.

Not advice in any form.....I'm a newb but this pattern jumped out at me.

Comments

Looking at a daily chart with candles it's in an EQ. Decreasing bull volume, two gaps below to fill, and no catalyst in the near future. I'm looking for further consolidation to take place
+6 Reply
idktrading Natestradamus
@Natestradamus, "no catalyst", really?
+2 Reply
Natestradamus idktrading
@idktrading, yes really. No catalyst in the near future. I might also add the path of least resistance is actually down now too given the gaps below and significant overhead resistance
Reply
idktrading Natestradamus
@Natestradamus, oh got it, looks like you mean there is no catalyst from a technical analysis perspective. From a fundamental side, there will be a couple of news released out in the next a couple of weeks I think, such as deliveries and their upcoming BaaS strategy.
Reply
andyscappinimon Natestradamus
@Natestradamus, Catalyst is the sales report that will be announced on the 2nd or 3rd of august.
Reply
Natestradamus andyscappinimon
@andyscappinimon, source? Or is this pure hopium for the bulls
Reply
We need volume to grt back up to 16. Which was a rather impulsive climb at the time. I'm hoping for it to retrace and settle more, and close the gaps.

Everything else is priced in already, outside of surprise RNSs
+1 Reply
I lost all my confidence in this stock. Just search a recent article in the WSJ - I agree with that article.
Reply
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