I am bullish on Nio, in the short term and overall in general. Today we had a nice hammer on close. Price action came down, tested, and wicked nicely off the .382 fib extension level. That has been a key support/resistance level since November. Nio also released their delivery numbers over the weekend. A new record was set for deliverys for the month of January, as well as touting a 352% increase YoY. Those figures would be more impressive if they were starting at a bigger number, but still good news for the company regardless. I see a lot of people calling for a pullback to 50 before continuing onward. I think this is unlikely but I guess anything is possible in this market. I'm long with options. 70$ March 21st Calls. Good luck Everybody.
Love & Prosperity
Love & Prosperity