NIO will be at 14.50 give or take .50 on or by March 16. The On Balance Volume shows strong selling pressure on NIO, with a clear downtrend channel.
Couple these technical facts with the FED rate hike in one week, and earnings approaching (which I predict to be less than pleasant, given the Geo-Political and economic climate the past two months) NIO will have a hard time breaking resistances.
Trade closed: target reached
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The price target of 14.50 was hit, and the price in fact dipped below 14.00 for a brief period.
You may want to rethink a few items. NIO will begin trading with a dual listing on the Hang Seng in Hong Kong on March 12. In addition, the only lower gap left to fill was at $17, which is where they did a secondary, By the way NIO released a new EV last week. Reservations are being re-sold for twice the sticker price. I also read balance sheets and will advise anyone shorting NIO that the shares are probably worth closer to $58 than $14. NIO may be the best run car company in China.
@They_Call_Me_Smarty, If you look at the chart. I show that it should increase short term :) Look a little harder at the lines
They_Call_Me_Smarty
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@cristiangcev, You read the chart right. But, look at little harder at a stock oversold and undervalued, We have to use all our tools and our smarts. GLTA
@cristiangcev, @They_Call_Me_Smarty, You were right. So credit goes to you. Nothing I can do about a war, so I added. Too much money on the table in NIO to day trade it at this time. Dont pat yourself too hard on the back for calling a drop while the markets are collapsing
They_Call_Me_Smarty
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@cristiangcev, ?
They_Call_Me_Smarty
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@They_Call_Me_Smarty, Keep your eyes on the inflow and outflow. Thurs and Friday there where more buyers than sellers, as the big boys got there borrowed shares returned. There is nothing wrong with making money the old fashioned way. You see stock worth $60, trading in the teens, you buy low and sell high. NIO had a 1200% streak going when Covid and Chips collided.
They_Call_Me_Smarty
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@They_Call_Me_Smarty, You were right. So credit goes to you. Nothing I can do about a war, so I added. Too much money on the table in NIO to day trade it at this time. Dont pat yourself too hard on the back for calling a drop while the markets are collapsing
SJ_CAP
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@They_Call_Me_Smarty, Its not about patting ourselves on the back or being right. Its about Technical Analysis and making money, and finding the truth as to why it did what it did.