After hitting hi @ 16.44 on 13 July, NIO went into a 6 wk+ consolidation cummulating into a Cup & Handle Pattern. It finally broke strongly above the C&H neckline yesterday on strong volume.
Congrats if you had caught this break up and while it is expected to have a near term C&H target of around 20.50-21.00. It is likely to be able move a lot higher eventually (however, catching a larger move would require more wiggle room hence we would probably need to give it a wider stop).
Let's see how high it could (eventually) go.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Congrats if you had caught this break up and while it is expected to have a near term C&H target of around 20.50-21.00. It is likely to be able move a lot higher eventually (however, catching a larger move would require more wiggle room hence we would probably need to give it a wider stop).
Let's see how high it could (eventually) go.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.