Potential short opportunity NIO rejected resistance at 33 area and closed right under it. From what I see, I think we retest 30.80 support area before a potential bounce.
If it however fails at 30.80 area of support then today’s action was simply a pop on news or like most traders like to call it a pump and dump.
This is my first idea so please let me know your thoughts
NIO trade ideas
2021 Market's Most Important LessonsIn 2021 I learned a lot of lessons..!
The most important lesson of 2021 for traders could be:
1-The market is a dynamic phenomenon..!
2- Reevaluate your positions.
3- Monitor the changes closely.
4- Accept your mistakes and correct them asap.
5-Prices will not always repeat
Best,
Moshkelgosha
Set Alerts for these linesThe art of catching a fallen knife takes lots of patience.
The best time to buy a falling stock is when it starts reversing, and for that you need to have at least 2 confirmation levels for NIO to break.
Before buying in NIO, you would need it to break the resistance trend line CONFIRMATION 1.
Then for a strong trend reversal confirmation you need NIO to break the resistance line CONFIRMATION 2.
Draw these 2 lines and set alerts for them.
Let the trade come to you, don't chase the trade!
Nio Is Now Down Over 50% From Its HighElectric vehicle investors are well aware that NYSE:NIO stock has had a tough 2021, in part because the company had no new models while rivals including NYSE:XPEV and NASDAQ:LI launched new or substantially revised vehicles. But with the ET5, the ET7's launch confirmed for March, and at least one more new Nio expected before the end of next year, 2022 is already shaping up to be a different story. That, and not the latest COVID variant, is what Nio investors should be focused on right now.
Shares of Nio set their all-time high back on Jan. 11, when they traded at $66.99. On this Tuesday, the stock is down over 50% from that all-time high.
What's more important, the company delivered 24,439 EVs in the third quarter of this year, doubling the number of EVs delivered during the same period last year. As of Nov. 30, cumulative deliveries of NIO’s three models have surpassed 156,000 vehicles.
On the other hand, NIO has already penetrated the European market, with Norway serving as a launching platform. Nonetheless, at the NIO Day, the company shared plans for further expansion overseas. The company plans to tap into Netherlands, Sweden, and Denmark in 2022, and by 2025, it plans to expand to more than 25 countries and regions globally. The business data will probably be better in 2022.
Is NIO set for a comeback? The stock is still valued higher than it's competitors in China, Li Auto and Xpeng, so it's possible it may continue to trade sideways for sometime.
Possible drop before long run.You can read my last post on why NIO will hit the 70 dollar price target soon. However, for the short term, It may come back down to hit the third fib level and become oversold at the same time to create a greater motive to buy.
Just keeping all outcomes on the table, not financial advice, do your own research, this is just what I see happening.
$NIO To Make a Comeback to $35 Level?NYSE:NIO Daily Chart
NIO has just bounced off recent descending channel support, with price leaving oversold territory.
Engulfing bullish confirmation candle is a welcome sign to signal a reversal to resistance levels of descending channel, which looks to be around the $35 level.
Overall longs be wary as market is incredibly volatile and while RSI is showing signs of a bullish reversal, MACD has yet to reflect sign of buyers regaining strength.
Lastly, NIO has been on a downwards trend over the past year so conservative longs may choose to stay out as the overall price action calls for a short biased approach.