NIO, the electric vehicle company is setting up again after being on a serious downtrend since its surge in January. This surge was the result of lots of "hype" around the name, the rise of Tesla, and its upcoming NIO day which happened on January 9th, 2021. We saw a massive run up the month before, around 60%.
This year, NIO day is happening on Dec 18th, 2021. This should cause an influx of volume and talk about the name. Keep an eye on this one.
In order to confirm the Elliot waves, we still need to create the (E) section of the triangle. Once this is confirmed, I believe we can start rising. However, with NIO day approaching soon, there is the possibility of NIO ripping before the set up completes. I will be watching for any signs of a pullback and be entering calls and shares around the 38-40$ mark.
Definitely keep this one on watch because we know from previous bullish runs, that this thing can RUN. The upside potential is very high here.
This year, NIO day is happening on Dec 18th, 2021. This should cause an influx of volume and talk about the name. Keep an eye on this one.
In order to confirm the Elliot waves, we still need to create the (E) section of the triangle. Once this is confirmed, I believe we can start rising. However, with NIO day approaching soon, there is the possibility of NIO ripping before the set up completes. I will be watching for any signs of a pullback and be entering calls and shares around the 38-40$ mark.
Definitely keep this one on watch because we know from previous bullish runs, that this thing can RUN. The upside potential is very high here.