NIO
Signal - Entry - $10
- Target - $27
- Invalidation - $2
- Risk to reward ratio - 2.13
- Gap between $9 and $11 where unfilled orders have to filled.
- Price once rejected $10 level and then broke it. We think that $10 level could act as a potential support.
- We have a 0.886 Fib retracement level at $9
Why should price reach Entry level?
- Because of the lockdown in Shanghai businesses are getting logistics problems.
- COVID-19 lockdown and China political situation with Russia influence foreign investors to sell their stocks.
-
NIO
is in the list of Chinese YTD share performance sectors that are vulnerable to COVID lockdowns
- Debt to equity ratio: <1 (Stable company)
- Has a stable cashflow
- According to Nasdaq, CNBC long-term price goal - $33