NIO INC (NIO) is a pioneer electric vehicle (EV) manufacturer in China where Tesla has find itself a worthy rival. With the advantage of huge population in China, NIO reported that their EV order has up 191% in just a year from 2019. The future prospect will remain bullish in the long run, especially when NIO enter into the major part of the US Market (to lookout for news when Trade War between US and China smoothen). These bullish propsect also backed by few big names such as Goldman Sachs, JP Morgan and BOA where they upgraded their profit target to around 38.65. The effect of covid19 (where tech is the future) and overvalued Tesla had spurred the retail investors to bet their money into NIO.
One should also be be aware of their financials where they reported net loss of RMB1,160mil. But this is an improvement from the same quarter of the preceding year where net loss is RMB3,286mil.
As per the chart, it is currently in a correction after it reached the all time high at 20.97. Hence, for risk management purposes, best that we wait till it retraces to 0.50 Fibonnaci level before trading in to get a better value.
Cheers!
Disclaimer:
This is just a trading idea, not a financial advice or buy/sell call. It is important that you educate yourself and manage risks before entering into a stock trade.
One should also be be aware of their financials where they reported net loss of RMB1,160mil. But this is an improvement from the same quarter of the preceding year where net loss is RMB3,286mil.
As per the chart, it is currently in a correction after it reached the all time high at 20.97. Hence, for risk management purposes, best that we wait till it retraces to 0.50 Fibonnaci level before trading in to get a better value.
Cheers!
Disclaimer:
This is just a trading idea, not a financial advice or buy/sell call. It is important that you educate yourself and manage risks before entering into a stock trade.