NIO was already a great price even before its earnings report. The earnings report sent it soaring higher, but based on the earnings outlook, it still may have room to climb. I think the stock could see $5 per share soon. However, first it will probably pull back this week toward 70 RSI. I'll be buying the dip and looking for a move higher. This is a swing trade, not a buy and hold, because the company hasn't turned a profit yet.
Trade active
I picked up some shares at 3.80 and will buy more if it continues to dip.Trade closed manually
The technical analysis on this one remains solid, but I change my mind about playing it. I don't like owning a company that hasn't turned a profit, even for a swing trade.
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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.