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NIO Inc. Sponsored ADR Class ANIO Inc. Sponsored ADR Class ANIO Inc. Sponsored ADR Class A

NIO Inc. Sponsored ADR Class A

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NIO trade ideas

NIO Limited (NIO)Shares in NIO limited (symbol ‘NIO’) have been trading in a declining channel throughout the first quarter of 2023. The company is expected to report its earnings for the fiscal quarter ending March 2023 on Friday 9th of June before market open. The consensus EPS is $-0,22 compared to the result for the same quarter last year of $-0,18. ‘The expectations of the negative EPS only makes sense since the company is yet to be profitable. Investors will want to watch for updates on the company’s global expansion. Nio has a relatively large portion of the Chinese market but is facing increasing domestic competition, although in mid May Ford announced that they will be scaling down their EV operations in China which is considered welcome news for NIO. This has the company planning to expand further into Europe while any positive news about this expansion could also be beneficial to NIO stock.‘ said Antreas Themistokleous, an analyst at Exness
NYSE:NIO
by Exness_Official
NIO breakout from descending wedge NIO is shown on a 4H chart. It has been downtrending for 3 months. Howver, April and May has high relative volume trying to reach the capitulation of a bottom. Thursday May 4th marked a near term bottom. NIO is now rising and breaking out of a falling wedge drawn onto the chart. It has crossed over the POC line of the volume profile ( This is the price level of the highest volume of trading). Price is impending a mean anchored VWAP. Relative strength has spiked. With this confluence of bullish signals, I have taken a long position which has appreciated 4.6% in the first half of the trading day having opened the position in the pre- market. I will now take a trade of call options striking $ 7.00 DTE 7/21. The rising dollar strength has confounded TSLA's sales in China and the Nordic countries. NIO is on the ready to pick up the slack.
NYSE:NIOLong
by AwesomeAvani