As NIO gets closer to the MA 50 line, and the lower point of their trend channel I think there will be some major movement coming. The stock will more than likely go sideways for a few more day, but start ramping up momentum to the upside. Hoping to see a false breakout to the downside and see a massive buy volum come in to give it some push, don't set stop-losses to close on this one!
There might not be enough volum for the stock, which would be worst case senario, however I don't think the risk is too big, don't see NIO go anywhere below 45 anymore. If the stock does break to the downside, earnings in march(?) will send it flying. The longer it goes sideways, the bigger the move will be.
There might not be enough volum for the stock, which would be worst case senario, however I don't think the risk is too big, don't see NIO go anywhere below 45 anymore. If the stock does break to the downside, earnings in march(?) will send it flying. The longer it goes sideways, the bigger the move will be.