NIO is targeting the 10.50 upside target as the stock is forming a larger degree XABCD pattern. Wave D rally is in progress and should carry NIO towards Fib resistance level of 12 leve, and potentially into 19. Looking to place some LEAPs expiring 2021. Also, the Chinese government is funding this potential Tesla Rival with $1bn. funding and also backed by the likes of Chinese internet giant Tencent.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.