Recent IPO. Hot sector, Tesla competitor. Breaking descending trendline. Last few days tight consolidation. A little bit "bottom fishing".
wait only for find the direction of break... jump for take profit...
watch and wait to see which way price breaks out of the triangle
This is gonna be a controversial stock, that people will either love or hate. It will be a great momentum play with high volatility in both direction. Great to play for catalysts, news etc. Let' s enjoy the show. The price of something is the amount of $ that people are ready to pay.
NYSE:NIO has been popular over the last week, lots of hype on this one.... BUT can we trade the HYPE? Let's see! Looking like a buy setup on the lower time frames!
Moving sideways but I think this is NIO support and Resistance.
NIO the chinese Tesla for now is a sell...