As some of you know we love NIO. We are investors in this company, not traders..
With that said, there is a potential trade opportunity developing in the stock.
Technical's -
Cup and Handle Pattern - you could argue this is the 2nd cup and handle pattern forming, with the first one failing - or - you could argue this is all part of 1 large cup and handle pattern. Makes no difference. The price action is looking bullish in the short term. Look for breakouts (or breakdowns) in the coming days.
Fundamentals - This company makes electric cars, based in China. One of their missions is to develop a community / cult following (just like TESLA) Click <a href="nio.io">Here</a> to visit NIO webpage. The company is not profitable yet. As a matter of fact, they took larger than expected losses, due to production increases. This caused some stock price volatility (surprisingly). companies dont become profitable over night. Tesla JUST became profitable. Click <a href="investors.com/news/nio-earnings-es8-production-tesla/">Here</a> to visit earnings narrative / report