Possible reversal to a Bullish trend
The chart is fairly self explanatory. RSI is approaching bullish territory at around 46 at the time of writing. MACD is showing a continued trend towards bullish on the 4 hr. Today the SP broke out in a bullish way from the down trend line I created awhile back. I added forks for a potential rise after this long drop + accumulation. My personal thoughts are that Nio is finally ready to be shocked back to life. On the Charts it is showing potential, and as far as the companies fundamentals go, they've never been stronger. Nio was able to pull ahead and away from Tesla in the Chinese ev market. Massive factory plans are in the works, BaaS will bring in massive residual recurring income, they are expanding rapidly to the European market, Nio has shown stellar growth QoQ & YoY. So on all fronts I think Nio is becoming a great growth opportunity again.
p.s. Do your own DD and I am not an advisor.
p.p.s. I encourage you to PM me or comment with thoughts and critiques!
p.s. Do your own DD and I am not an advisor.
p.p.s. I encourage you to PM me or comment with thoughts and critiques!
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