Current Zone: We are in the 'zone of despair,' where weak investors feel fortunate to have sold. This emotional response typically indicates a significant turning point.
Previous Activity: We successfully closed the Fair Value Gap (FVG) from July 2020, marking an optimal entry point. I anticipate the price will surge from here.
Future Outlook: I predict that NYSE:NIO could drop to $3.85 to close the gap from June 2020 and complete the falling wedge pattern. The Relative Strength Index (RSI) suggests that the falling wedge is likely to break soon. From $3.85 or this level, I see the price potentially surging upward. Should we close below this, we could be heading toward the $2.90 zone
Disclaimer: I am not a financial advisor. This analysis is for informational purposes only and should not be taken as financial advice.
Comment
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The chart is starting to show a bullish reversal and a short squeeze on NIO. We have closed the gap, as I mentioned, at $3.85. There is another fair value gap (FVG) at $2.80, but I don't think we will reach this level. It might drop toward $3.50, but no more, in my view. I added some long positions at this level yesterday
CFO and CEO keep spending like crazy for their own pocket. Spending their shareholder money like waterfall, never uphold their reputation. these two person 90% possibilities fraud.
Drunkmonk
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Tesla is getting ready to bounce back to maybe 175 before one more move lower.. possibly to $128. I am starting to think NIO will not bottom and pivot until Tesla does. im watching $3.14 (which is the 1:1 extension for a proposed macro WXY from ath). i already loaded to hold longer term and wont add more until the trend has changed. I'm also worried a bit about the impact of NIO from the major US indices experiencing a significant correction in the coming months.
@jediaugust24, Hopefully 😅, but I don't think the price will drop below $3.5. If you know about cars, you might change your mind, but ideally, if it drops to this level we gonna be so lucky
rune93
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Something is wrong with Nio. Better to stay away
MarketSphere
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@rune93 not really Nio suspension won over porsche and you didn’t read what happened to China about Sovereign Fund that people are not able to take their money that’s why Chinese stocks dropped, however what’s happening with Iran and Israel will have a huge impact on the market
rune93
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@MarketSphere, It's a supplier of Nio. They have invested a bit of money in it, but still a supplier. You don't go down 95% from all time highs without having issues. This is a Nio problem. Li Auto and BYD haven't had issues with the share price. Nio isn't executing. The management and company is a mess. Headed for bankruptcy or buy out.
Radiologyfinance
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@rune93 sell your shares I will buy them from you. I have obtained the best returns by buying in moments where people are afraid. In the future I will tell my children that I had the opportunity and bought NIO for $4.
rune93
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@Radiologyfinance, I'm shorting this crap, so you can load up at 1-2$ and stay stuck with your money for the next many years. It's a crap company with crap management
MarketSphere
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@rune93, you will end up losing even more if you short🥸 short squeeze is coming