Goingdutch303
Short

NIO drops a dollar tomorrow!

NYSE:NIO   NIO INC
Hi,

My second analysis after a month of learning about the trade. Again, an easy pick; The Hood's favorite: NIO .

Assesment:
- NIO remains overbought at the daily and weekly level.
- A rising wegde formed midday
- Volume decreased as the wedge formed
- indecisiveness during end of day

Using an ABCD pattern and retracement lines my estimate would be a dollar drop by end of day. I put it exactly at a dollar for the sake of it.
They key would be the break of the 12.85 resistance point. We already saw a lot of volume pushing back around the 13 mark. Perhaps not a lot of strenght left there.

After that it maybe a drop below 10 as my previous post mentioned.

I have not taken into account the fundamentels as was mentioned last time. I bought at 13.50 to short so am bearish biased. :)

Look forward to hearing your input!

Hear to learn.

Comment: Please note the H&S shoulder pattern forming which is another indication of an imminent drop. Thanks to u/Bear11
Comment: Just noticed the pre-market drop to 11.68. Here we GO!?

Comments

LOVE IT!!!!!
Check my $NIO video out as well.. Called it from last week and just waiting
+2 Reply
Goingdutch303 InvestSmartWAAS
@InvestSmartWAAS. Thanks. I always check your vids haha. I just started so hopefully so hopefully this analysis will give me a sign that i've learned something haha.
+1 Reply
InvestSmartWAAS Goingdutch303
@Goingdutch303, Learning too my friend....
Appreciate it big time.... Im not always right but when I am, It goes hard too.... lool
Trade Safe
Reply
Goingdutch303 InvestSmartWAAS
@InvestSmartWAAS, Thanks. I normally hate numbers and graphs. Hated math in school. But the psychology and excitement really draw me in.

Can i ask what sources you read/follow to stay up to date?
+1 Reply
InvestSmartWAAS Goingdutch303
@Goingdutch303, sure no issue....
Simple as 1,2 and 3..
I like to just watch volume and new highs... Those types of trade work for me.... I use plenty of different sites but at the end of the day, Trading View Volume and US all exchange is what I play with it if its a daily trade for myself... Swing trading is cool too but only when I go under cause usually a week to a month, im back up and I pull out after.
+1 Reply
@Goingdutch303 You better keep learnig bro
+1 Reply
Goingdutch303 Acetrader19
@Acetrader19, Always! Any idea where i should start?
Reply
11.68? Where did you see that number?
Reply
Hi, good analysis. Can you look on my NIO chart, I'm wondering if that could be true or not, need some advice!
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