Hello Traders
Hope you are doing FANTASTIC
I am writing this idea to share my personal trading strategy for
NIO
that has the potential to generate a 10% return within a day or two, depending on market conditions.
Analysis:
As you can see, NIO has been in a consistent downtrend in the month of August. This is due to the primary markets, such as QQQ, SPY, and DJI, consolidating and making lower lows. This downtrend is supported by the moving averages (MAs), which show that the 50MA is above the 9MA. The perfect downtrend of NIO in the 1H timeframe is merely a higher low on the weekly timeframe, which indicates that it is in an uptrend.
Strategy:
Based on my analysis, I am looking to short NIO at approximately $10.73 and hold until $9.61 for a 10.43% ROI. I am choosing to enter a short position for two reasons:
1) The downtrend has not yet been broken (the upper trend line has not been breached) and the price is continuing to go down even for the primary markets.
2) The 50MA is holding strong above the 9MA, which indicates that the downtrend is strong and there are no signs of a potential reversal.
This is my take on the NIO stock. I would be happy to hear your thoughts and ideas.
Thanks
Hope you are doing FANTASTIC
I am writing this idea to share my personal trading strategy for
NIO
that has the potential to generate a 10% return within a day or two, depending on market conditions. Analysis:
As you can see, NIO has been in a consistent downtrend in the month of August. This is due to the primary markets, such as QQQ, SPY, and DJI, consolidating and making lower lows. This downtrend is supported by the moving averages (MAs), which show that the 50MA is above the 9MA. The perfect downtrend of NIO in the 1H timeframe is merely a higher low on the weekly timeframe, which indicates that it is in an uptrend.
Strategy:
Based on my analysis, I am looking to short NIO at approximately $10.73 and hold until $9.61 for a 10.43% ROI. I am choosing to enter a short position for two reasons:
1) The downtrend has not yet been broken (the upper trend line has not been breached) and the price is continuing to go down even for the primary markets.
2) The 50MA is holding strong above the 9MA, which indicates that the downtrend is strong and there are no signs of a potential reversal.
This is my take on the NIO stock. I would be happy to hear your thoughts and ideas.
Thanks