NIO!!

20 Feb 2020

NIO is looking to make a parabolic move similar to its counterpart, Tesla.
After a establishing a bottom base at the $1-$2 range, NIO exploded to $5.65 and has consolidated nicely to form a new base of support at the $4 level.

If this does shape up to be a parabolic advance the current level would be the 2nd base. A move up to the $6-8 range would be the 3rd base which could be followed by a near doubling in price. This move would happen rather quickly. My aggressive targets are above. I have made entries at the $4 level with stops below the consolidation lows. This would make for a nice R/R

25 Feb 2020

Nota

If you don't have a position in NEO, the volume surge and pullback this can give you an opportunity to identify your entry point and define your risk. I always use a stop loss and always recommend you do as well. Less is more :-)