I got excited about NIO looking at its weekly chart but when I zoomed it and tried to do more in-depth analysis I noticed some things I didn't like about it and they lead me to think we will be looking at short-term pullback in this stock soon. Please see notes on the chart, I think it might go as low as $41.7 where it would also test moving average for support. This is probably 1-2 weeks timeframe, uptrend could resume if supports hold.
Please let me know what you think.
Please let me know what you think.
Comment:
I got some 7/2 NIO PUTS at $45 to play this, looks like we're hitting downsloping resistance at shorter timeframes too