Miss IndependentCommand Economies and all that Shizzle
There is something about all that fiscal spending that we love...Communism at it's best? To many of us in the West, we're seeing a similar emergence by a similar party: " Green New Deal? " Maybe!
No, I'm not talking about Cow Farts! I'm talking about Airplanes, boats, and car Farts! But Especially Snuff electric cars! No longer will China need or develop gas-powered infrastructured gas stations, all they need to do is to build a battery-powered silk road! But is it good? Depends. How bad do they want it?
That's the problem with a Command Economy.... if I produce 2 oranges, I will have no apples. Can we have both? No, Miss Independent, you may not.
Despite the negative criticism of NIO, I am long on Nio. This is one of the first car companies that actually have a nice design, semi-good engineering, and tech that's based out of China (Golden Dumpling)! All integrated into one! And on top of that, I'm also stuck in this bias trade ( do not kill me! )
Let's look at the goods...
Time Frame: 1M 1H for NIO (you see what I did there?!)
RSI tends to be oversold. Hanging below the 45 suggest that we might have a run-up, considering an RSI resistance level of 50 might need to break for an upward swing.
Liquid 20 suggest that we are in a downward trend, however, as the RSI rises so will the Trend Line.
As for the MACD? it's drunk. But sober times seems to be emerging! can we converge and then cross to the upside?
Lets, go CHIIIIIIIna!
