NIO has basically had a full year bull run.
Most people predicted $60 by the end of 2020, and that happened. It still has not seen a major correction in 12 months.
Notice the previous and current touches on the 100 day EMA.
Longer term EMA's are more significant than short term EMA's.
I see a decently long selloff here. Not going to get excited about NIO until they come out with some majorly good news or hit low $30's again.
Most people predicted $60 by the end of 2020, and that happened. It still has not seen a major correction in 12 months.
Notice the previous and current touches on the 100 day EMA.
Longer term EMA's are more significant than short term EMA's.
I see a decently long selloff here. Not going to get excited about NIO until they come out with some majorly good news or hit low $30's again.
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In my youtube video I explained that I don't think it needs to correct to the .786 level, especially since that was in March 2020. I only referenced that for perspective. I forgot to mention that here. I do have high 30's in my buy zone but I'm watching like a lion, waiting to pounce on NIO in it's weakest moment or catch it if it notices me hiding in the tall grass.
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I felt like Friday was going to be a dip and bounce day so I stayed patient and waited for NIO to get into the low 30's. That was pretty exciting.
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If you didn't already sell your $32 NIO that you bought on Friday for $44, then I would now wait to do so. It has a new support level and it's very close to it. Let's see how the next few days play out.
I'm still looking for a lot of volatility this month so I'm trying not to fall in love with my shares right now. Anything over a 30% gain in a few days is a sell for me (Unless I watch it like a hawk up to 50% gains before selling). Not because it means the stock is going to reverse but because we're here for profits baby!! LFG!
I'm still looking for a lot of volatility this month so I'm trying not to fall in love with my shares right now. Anything over a 30% gain in a few days is a sell for me (Unless I watch it like a hawk up to 50% gains before selling). Not because it means the stock is going to reverse but because we're here for profits baby!! LFG!