Greetings All,
NIO broke the descending triangle (intrinsically bearish), to the upside, which I interpret as a bullish breakout. The chart also shows that NIO encountered a market bottom on 8 March around $32. NIO has also respected the long-term trend support with support around $34. NIO also closed above the 20MA and will test the 50MA as resistance. As you can see, NIO has a lovely channel range, with several targets approaching $70. I'm once again bullish on NIO.
My Strategy
Happy Trading!
NIO broke the descending triangle (intrinsically bearish), to the upside, which I interpret as a bullish breakout. The chart also shows that NIO encountered a market bottom on 8 March around $32. NIO has also respected the long-term trend support with support around $34. NIO also closed above the 20MA and will test the 50MA as resistance. As you can see, NIO has a lovely channel range, with several targets approaching $70. I'm once again bullish on NIO.
My Strategy
- I'm LONG the 21 Jan 2022 $10C
- I plan to sell shorter expiration OTM weekly call options to collect enough premium to cover my basis for the $10C, while the $10C appreciates
Happy Trading!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.