NIO is back to consolidation mode!
As you see on the chart we saw
1. The first huge climb from 17-22
2. The consolidation for a few days
3. The breakout from 21-29 and change
I think based on this chart that NIO will trade sideways for a bit and if there’s no Washington style take down of the markets with no stimulus passing or any election related volatility, NIO will pop once more toward that 30-35 maybe even 40 level!
Currently the PT for NIO is between 32-40 set by JPM and BAC. Analysts predict that NIOs future PT is way above the 300 level. (Super bullish)
I’m excited on seeing NIO stock unfold! Let’s see how this unfolds!
Last but not least: I would avoid calls or puts for the time being as I forecast a sideways action remainder of this week at least. If you were to want to go in right now I would look for end of Nov expirations. I would also cover my calls with puts in case election volatility throws NIO a curveball.
If you’re long stock wise, it’s a great price to buy! Simple as that!
As you see on the chart we saw
1. The first huge climb from 17-22
2. The consolidation for a few days
3. The breakout from 21-29 and change
I think based on this chart that NIO will trade sideways for a bit and if there’s no Washington style take down of the markets with no stimulus passing or any election related volatility, NIO will pop once more toward that 30-35 maybe even 40 level!
Currently the PT for NIO is between 32-40 set by JPM and BAC. Analysts predict that NIOs future PT is way above the 300 level. (Super bullish)
I’m excited on seeing NIO stock unfold! Let’s see how this unfolds!
Last but not least: I would avoid calls or puts for the time being as I forecast a sideways action remainder of this week at least. If you were to want to go in right now I would look for end of Nov expirations. I would also cover my calls with puts in case election volatility throws NIO a curveball.
If you’re long stock wise, it’s a great price to buy! Simple as that!
