Stocks

$NIO is a BUY!

I missed it, but I am watching like a hawk. I have seen this name a few times a did a little research this morning. I did not watch the 60 Minutes special on it but it gave it the boost over major resistance yesterday that it needed. The follow through today is large and I expect this to continue ahead as the momentum is intact and IPO highs are much higher.

Thanks to @allstarcharts for introducing this to me, “the longer the base, the higher in space”. This one is going up. You can see the immediate pump off the IPO and then the basing above $6. Well now the resistance is broken above $8 with authority and $10 was a given (Round Numbers lol). I expect this to gravitate toward the IPO highs at a minimum and with any type of good earnings news you are going to see this gap above $14. I really like the electric, luxury lifestlye, club space NIO is trying to find a niche in; and the chart does not lie here. As much as you may hate electric cars, this one is going higher.

LONG

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