This has been a very interesting stock as of lately, Electric revolution is happening and you can see this from the electric car sales growth that NIO has been producing as of late in its monthly report.
In my view the moves are going to be as displayed on the chart. Obvious carry through in bullish momentum will need to be seen next month if the growth in sales figures does indeed follow through too. Long Term this stock is going to boom. I own the stock at around $3-4 dollars a share. It has been on my radar since hitting $1 a share as a speculative stock and obviously by seeing the SP now , it has worked out for quite a handful of people quite well !
This is not financial advice , please consider your own DD and RM.
If you have any questions please ask :) Happy Trading !
I have my position 14.97, do you think should I sell it and wait to drop to 13?
iderg
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@vincentteh36, are you short therm trader or long term investor? If long term just keep and buy more while drop if you can imo
UnknownUnicorn5026590
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@vincentteh36, Yeah if it is a CFD then i would say it is wise to wait for a corrective momentum movement on the charts. Happy Trading Vincent !
Natestradamus
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Id long this once the first gap fills and only with a partial position. We have the Daily RSI flirting with the 90s and it hasn't had daily support in about 2 weeks now, weekly is in the upper 80s, 4hr chart has bearish divergence. These types of moves are generally met with fierce pull backs. I would feel much more comfortable longing this when the Daily RSI at least cooks off and we have some support established for good risk reward. I'm looking at $8-$9.51 as my entry zone
UnknownUnicorn5026590
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@nfreed31, That's a great explanation, thanks for sharing :) I personally don't think it will go to $8-$9.51 a share but it definitely could. I'm looking at around $11-$12 consolidation zones to pull the RSI down a bit. I agree completely that this needs some daily support, and yes bearish divergence is going to hit hard on this stock come this week!
The_Brown_Broker
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I'll be buying NIO soon, let's make some money baby
UnknownUnicorn5026590
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@The_Brown_Broker, Yeah defo on my watchlist to be adding too in the next week or so ! Good luck on your trades mate !
3809a18b5fcc49de89b212a85501ab
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@illia28, what's your entry
UnknownUnicorn5026590
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@3809a18b5fcc49de89b212a85501ab, I entered the company at the start of 2020 when it was around $3-$4 a share. Currently holding positions at $7 a share on CFD. Looking for future trades my ideal long position would be $11 , as that is the retracement level that i believe to be correct for this stock. This however would need to be reviewed at a later date in consideration of the actual MACRO economical data that will shape the markets . TP for all shares regardless of entry in my opinion should be in the $25-$30 to start off with as a target.
Look for opportunities in the $11-$12 region as i don't believe the stock will go parabolic mode anytime soon like Tesla had done at the start of this year.
Hope my comment helped you decide on an entry level!