NIO had a chance last week - with TSLA taking a day or two off. But now look at what NIO is doing on the daily. 9ema trending down, 34ema about to turn down, 200ma about to trend sideways. 3 days of red in a row - significant selling at that.
I don't know what to thin of this yet. If you look at some of my old charts, you can see I was on this at a very early stage and have been a huge fan of the company/charts since then. I have no position right now and don't plan on opening any new positions until after things settle down late next week.
But NIO is on my watchlist for LONG, perhaps calls also.