NIO: Popular EV Company Smashes Technicals
Nio looks really good. Our CDV indicator shows a lot of strength on the buyer side and is pacing with this crazy upward price action.
There is a lot of hype around who is going to be the next TSLA. We've seen some questionable stocks soar just because of news hype with no fundamentals considered whatsoever.
This may be a different story with NIO. China just released a really positive sales report on recent automotive sales and that gives strength to this momentum. A lot of these kind of EV stocks are largely valued on future potential of the company in a market that over the next 20 years is expected to see insane exponential growth.
Technically we are looking good here and a back test and resumption off of the trendline we just broke would be a very bullish sign. However, we really don't want to retest the horizontal support because we may get trapped underneath the trendline we just captured.
Our CDV is indicating that real buyers are backing this price action showing possible continuation.
This is a very speculative stock, with extremely high IV on the options chain. This is why would would be careful with this stock.
NIO
There is a lot of hype around who is going to be the next TSLA. We've seen some questionable stocks soar just because of news hype with no fundamentals considered whatsoever.
This may be a different story with NIO. China just released a really positive sales report on recent automotive sales and that gives strength to this momentum. A lot of these kind of EV stocks are largely valued on future potential of the company in a market that over the next 20 years is expected to see insane exponential growth.
Technically we are looking good here and a back test and resumption off of the trendline we just broke would be a very bullish sign. However, we really don't want to retest the horizontal support because we may get trapped underneath the trendline we just captured.
Our CDV is indicating that real buyers are backing this price action showing possible continuation.
This is a very speculative stock, with extremely high IV on the options chain. This is why would would be careful with this stock.
NIO
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.