My NIO observations:
Chart is a daily, Heikin Ashi candles, with 117 day linear regression overlay, using a 2% std deviation spread. Chart also shows classic pivot points, current only. 117 day period chosen for March 1 starting point.
NIO has been in an uptrend since March 1st but is currently trading below its trend line. Likely support shown at Pivot Pt S1 ($39.60). Trend is approximately $45 currently and project to $46 by mid September.
Williams %R (based on 8 days) shows selling momentum, but has not quite reached oversold levels.
Broad distribution between upper and lower linear regression lines indicates volatility (as everyone knows). Heikin Ashi candles smooth or reduce appearance of price volatility to an extent.
Trading idea: new money trades interesting between lower and middle regression lines ($40 - $41). Consider target price or resistance to be in range of upper trend line to R1 Pivot Point.
Disclosure: I own some NIO shares that I consider a long-term hold. I also trade NIO frequently including the call options. I purchased a single Dec $30 call at $13.00 late Friday and will add to that position on weakness near-term.
NIO is a momentum stock, highly sensitive to the broader market, EV news, and other media headlines.
Chart is a daily, Heikin Ashi candles, with 117 day linear regression overlay, using a 2% std deviation spread. Chart also shows classic pivot points, current only. 117 day period chosen for March 1 starting point.
NIO has been in an uptrend since March 1st but is currently trading below its trend line. Likely support shown at Pivot Pt S1 ($39.60). Trend is approximately $45 currently and project to $46 by mid September.
Williams %R (based on 8 days) shows selling momentum, but has not quite reached oversold levels.
Broad distribution between upper and lower linear regression lines indicates volatility (as everyone knows). Heikin Ashi candles smooth or reduce appearance of price volatility to an extent.
Trading idea: new money trades interesting between lower and middle regression lines ($40 - $41). Consider target price or resistance to be in range of upper trend line to R1 Pivot Point.
Disclosure: I own some NIO shares that I consider a long-term hold. I also trade NIO frequently including the call options. I purchased a single Dec $30 call at $13.00 late Friday and will add to that position on weakness near-term.
NIO is a momentum stock, highly sensitive to the broader market, EV news, and other media headlines.