As I note in my chart, I'm seeing more bearish signals than bullish ones. With the possible bear flag, MACD turnover, and the drop in volume, I'm leaning on more downside. Also, 
NIO has been following 
TSLA and 
SPY; the markets are getting bearish as we get closer to the elections and Wall Street is feeling uneasy. If your a long term bag holder, no sweat - add on the dips. If you're day trading NIO, have patience, wait for the right setup to go long. I wouldn't short the stock at this price point though, there is the possibility of an unexpected explosive move up since this stock has released several pieces of good news (and $25.00 price targets by respected analysts).
NIO has been following TSLA and SPY; the markets are getting bearish as we get closer to the elections and Wall Street is feeling uneasy. If your a long term bag holder, no sweat - add on the dips. If you're day trading NIO, have patience, wait for the right setup to go long. I wouldn't short the stock at this price point though, there is the possibility of an unexpected explosive move up since this stock has released several pieces of good news (and $25.00 price targets by respected analysts).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.