Nio's Technical Trends
There is a downtrend on the weekly candles but the price is near support. During a strong downtrend the bear market rallies can be strong corrections to the upside.
There is still no uptrend in sight but with China rallying so hard then you would think it is safe to assume that NIO will join the rally soon.
On the daily candles you can see that the price action has formed a slightly upward sloping price channel. Essentially this is the price action forming higher lows. This is the first time that NIO's charts have made an positive sloping channel in about two years. So purely based off of price action, this is the best NIO has looked in two years.
The very short-term trend on the one hour candles has been slowly climbing upward since the beginning of January.
The long-term technical picture looks grim. But a stock can not fall forever. On the monthly candles the charts have a clear resistance to a positively correlated chart. But there is no support. So when will the price bounce?
Here is a trick that works sometimes. What do you do when you have a clear resistance line with an obvious direction but there is no support line? You duplicate the resistance line with the exact same angle or slope and add it to the previous lows. Kind of like copy and paste. Essentially you would be making a perfect parallel price channel which you see often in the stock market. This trick is not 100% accurate every time but it works often with some ticker symbols.
If this theoretical support holds then NIO should catch a bounce in price action in the near future. With China reopening and their stock market rallying this seem like it might happen very soon.
You should take note that NIO's price will often travel in sentiment with a lot of other EV names in the stock market. So when EV stocks are performing well then NIO should follow suit.
As always, good luck trading. Be careful and be patient. Give your investments time. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. And just follow the trends. A trend is your friend.
$iShares Russell 2000 ETF(IWM.US$ $Invesco QQQ Trust(QQQ.US$ $VIX Index Future Main(SEP2)(VXmain.US$ $SPDR S&P 500 ETF(SPY.US$ $SPDR Dow Jones Industrial Average Trust(DIA.US$ $Gold Future Main(DEC2)(GCmain.US$ $E-mini Dow Futures Main(MAR3)(YMmain.US$ $E-mini S&P 500 Futures Main(MAR3)(ESmain.US$ $E-mini NASDAQ 100 Futures Main(MAR3)(NQmain.US$ $E-mini S&P MidCap 400 Futures Main(MAR3)(EMDmain.US$ $E-mini Russell 2000 Index Futures Main(MAR3)(RTYmain.US$ $CBOE Volatility S&P 500 Index(.VIX.US$ $VIX Index Futures Main(FEB3)(VXmain.US$
$USD(USDindex.FX$ $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf(UUP.US$ $SPDR Gold ETF(GLD.US$ $iShares Silver Trust(SLV.US$ $Ishares Iboxx $ High Yield Corporate Bond Etf(HYG.US$ $Ishares Iboxx $ Investment Grade Corporate Bond Etf(LQD.US$ $iShares 20+ Year Treasury Bond ETF(TLT.US$ $Crude Oil Future Main(OCT2)(CLmain.US$ $VanEck Gold Miners ETF(GDX.US$ $VanEck Vectors Junior Gold Miners ETF(GDXJ.US$
$TENCENT(00700.HK$ $SSE Composite Index(000001.SH$ $CSI 300 Index(000300.SH$ $CSI 300 Index(000300.SH$ $FTSE Singapore Straits Time Index(.STI.SG$ $NIO-SW(09866.HK$ $NIO Inc. USD OV(NIO.SG$ $NIO Inc(NIO.US$ $BILIBILI-SW(09626.HK$ $Bilibili(BILI.US$ $Baidu(BIDU.US$ $BIDU-SW(09888.HK$ $XPeng(XPEV.US$ $Li Auto(LI.US$ $BYD COMPANY(01211.HK$ $BYD Company Limited(002594.SZ$ $S&P/ASX 200(.XJO.AU$ $FTSE Singapore Straits Time Index(.STI.SG$
$Chevron(CVX.US$ $Phillips 66(PSX.US$ $Valero Energy(VLO.US$ $Devon Energy(DVN.US$ $Occidental Petroleum(OXY.US$ $W&T Offshore(WTI.US$ $United States Oil Fund LP(USO.US$ $United Sts Brent Oil Fd Lp Unit(BNO.US$ $Imperial Petroleum(IMPP.US$ $Houston American Energy(HUSA.US$ $Indonesia Energy(INDO.US$ $BP PLC(BP.US$ $Exxon Mobil(XOM.US$
$Bitcoin(BTC.CC$ $Ethereum(ETH.CC$ $ETC(ETC.CC$ $Yearn.finance(YFI.CC$ $Terra(LUNA.CC$ $Litecoin(LTC.CC$ $Stellar(XLM.CC$ $Cardano(ADA.CC$ $Bitcoin SV(BSV.CC$ $Bitcoin Cash(BCH.CC$ $Compound(COMP.CC$ $Polygon(MATIC.CC$ $Dogecoin(DOGE.CC$ $Metaverse ETP (ETP.CC)$ $Verge(XVG.CC$ $Orchid(OXT.CC$ $OMG Network(OMG.CC$ $0x(ZRX.CC$ $Qtum(QTUM.CC$ $NEO(NEO.CC$ $Dash(DASH.CC$ $Theta Token(THETA.CC$ $Tezos(XTZ.CC$ $ZEC(ZEC.CC$ $Maker(MKR.CC$ $Decentraland(MANA.CC$ $Cosmos(ATOM.CC$ $ChainLink(LINK.CC$ $Monero(XMR.CC$ $TRON(TRX.CC$ $Polkadot(DOT.CC$ $XRP(XRP.CC$ $Binance Coin(BNB.CC$ $Bitcoin Gold(BTG.CC$ $Uniswap(UNI.CC$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
16KFollowers
2942Following
28KVisitors
Follow
SpyderCallOP : @102640653
Silverbat : Weekly macd and kdj enter bull phase
TeslaSmurf : Looks like a decisive moment for the NIO stock BUT, consider this:
• the company is not nearly close to break even (still loses money on each car), and has already been bailed out (bankruptcy) from the Chinese government.
• their prices were in the same “competitor’s” range as Tesla and they principally sell in China,
• they cannot compete with Tesla’s lates discounts (let alone the profitability),
• Tesla’s software is still way superior,
• they don’t have a charging network comparable to Tesla’s Superchargers
• they haven’t much more neared Tesla’s efficiency and performance
That said as a FUNDAMENTAL situation, for the stock I would wait a clear confirmation out of the channel OR, the next clear wave up within the channel (now too close to a critical 11,48$ which could cause a downtrend).
Where am I wrong ?
meruson : can buy some. tsla price cut may squeeze competitors, but with china opening up and little inflation, most china stocks would be lifted up by the rising tide.
Ewealthness : Good TA.
102640653 : Thank
102640653 : Look good
icezzz : Is Nio still look bullish now?
SpyderCallOP icezzz: yes
icezzz SpyderCallOP: Thanks for update