Culminating Weekly Divergence! NIO

1. Weekly bullish divergence

2. Trying to break the downward channel. (trading near resistance line)

3. WT_LB indicates trading at oversold band

4. MA is not yet confirmed and I am going to wait until I see a change to green line (potentially will happen at earnings release date)

5. Both gaps were filled based on previous analysis.

There are risks. Do your own research. it is just my thoughts.

Comment:

Not yet opening position until I see a confirmation CM_Ultimate_MA_MFT_V2 on weekly timeframe.

YOY delivery increase of 22%.

Comment:

I try to follow the CMT Framework:

- Identify a trend reversal (either primary of secondary on daily and weekly timeframes)
- Get into the position after considering different tools of confirmation and setting a stop loss.
- Ride the trend until there is a sign of trend reversal (either primary of secondary on daily and weekly timeframes) and try to get it confirmed.
- Close the position.

So I am going to wait for a confirmation CM_Ultimate_MA_MFT_V2. It is not about catching the dip but rather riding the trend.

Comment:

As soon as CM_Ultimate_MA_MFT_V2 is green on weekly basis, then I am in.

Comment:

I start accumulating at $8 - $8.5 but still waiting for a confirmation from CM_Ultimate_MA_MFT_V2. Must be green on weekly basis.

Comment:

There is a confirmation from CM_Ultimate_MA_MFT_V2 on weekly basis. Will use any retracements for getting in. TP1 $14. TP2 $27.