Bearish Channel is intact on the Weekly Chart. Heading lower in the longer time frame with a Support Zone from 3.56 to 2.37. The mean reversion of this zone puts the price target object to around $3. Bear flags have been setup for continued downside. Short on flag resistance for continue leg down. Short at break of flags.
There are two gaps below which the stock is heading. First gap is at $2.50 and 2nd gap at $2.50. Nio is trending lower in its downward channel with lower highs and lower lows.
NIO is a good company, ruined by these two, CEO and CFO who are best friend. who kept spending money like crazy and unnecessary projects.
Not focusing on pushing for sales of the car but instead doing stupidity technology that will only drain the company cash flows.
A very screwed up management which may goes to ZERO
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Is Nio Inc Class A ADR (NIO) the opportunity of a lifetime?
Although NIO's recent performance may seem...
NIO - Chinese automaker
Fundamental
According to carnewschina.com in Q1 2023 year NIO sold 31,041 EVs - 2.46% only.
"Nio is currently having difficult times in China. Because of the price war, its sales declined, resulting in a noticeable revenue decrease. So, Nio was forced to also join the price war by cutting the cost of every model by 30,000 yuan (4,200...
NYSE:NIO ended the week with a swing low in week 36, a good timing for a weekly low, the price is seeking a yearly low price too. We need price to close above the 10 week moving average for full confirmation that the weekly cycle has turned a corner. On the monthly chart we see some positive divergence building on the TSI & RSI.
WXYXZ. Z = Y @ log .618
they wanted a longer description so.. long pivot on deck, bullish divergences multiple timeframes. I like to have fibs AND geometry supporting the count as shown on the chart but it lacks geometry. the 5-3-5 zz we want to see in wave Z is a harder sell but im running with this anyway. Weekly timeframe looks obvious but we can nit pick...
Overview
NIO Inc. remains a luminary in the electric vehicle cosmos despite its gravitational pull back in share value, slicing through 54.7% of its price since the commencement of 2024. The current tapestry of NIO's performance is interwoven with robust delivery figures and innovation despite the financial turbulence it navigates.
Technical Indicators and...
Have you shorted yet? Did you sell before the flag breakdown? As I have been discussed in my previous chart, there are bearish flags setting up. 1st target is around $3. Remember length of the flag pole = Measured downside. Continue to sell on strength with more downside profit
Gap between $9-10 range and local resistance is rejecting the price really well.
Next major support is also untested and price could reach there since there is no EXHAUSTION VOLUME.
and rest...
Idea well explained in the chart.
This is not a financial advice.
think we hit the bottom for nio here.
that should conclude wave2 (ABC) for wave 3 i aim for 110$ and wave 5 could be 130$ or higher , waiting for wave 3 to finalize first
Nio is now trading around the level of March 5. According to our primary expectation, the share is likely to fall below this level once again before the magenta-colored wave (C) and thus the superordinate beige-colored wave II comes to an end. Only when this low has been established should the stock return to a sustainable upward structure. Initially, the blue...
HI it's Mr.P From YT. Here is a bullish wedge and we are reaching the apex and could see an explosive breakout very soon! I have more in depth analysis on my YT
NYSE:NIO close on Friday (3/23) exposed it to lower lows. Elliot wave theory works in both directions and this time it's a long setup. My PT is $3.90 for entry in April, partially based off of old trading from 2019-2020 and mostly based off of what you see on the chart. GL!
