devigriffel

Taking long after pullback

Lång
devigriffel Uppdaterad   
BATS:NIO   NIO Inc.
* RSI heavily overbought 4h tf
* VOLUME starting to cool off
* Pullback after impulse!
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Just a reminder:
Fib extension 1.62% (2.36) may still be in play if price goes under 4.00 again
Its the ultimate low on my chart

Impulse leg what was formed 1.05 = April deliveries

Last time in April 2020: Price range 2.12-2.36 (matches with the current Fib 1.62) - where the rise started
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Taking the Long ONLY if the 4.00 price does not break!
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Fib 50 retracement and support line
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What does this form remind You? ABC correction (fib50) in bullish flag
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Got in, lets see how it will go.
News, sales etc all good for that move (ONLY MY OPINION!)
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I`ll take the risk
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We have Volume!
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Should be next move because : RSI overbought, downwards channel upper line and as always a little healthy pullback before upward continuation
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Breaker?
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Company Achieved New Record-High Monthly Deliveries
NIO delivered 20,544 vehicles in May 2024, representing a substantial increase of 233.8% year-over-year. The deliveries consisted of 12,164 premium smart electric SUVs, and 8,380 premium smart electric sedans.

Now we could see a little push to upside!
As for now, I think this is only temporary push.. We need to maintain these delivery numbers every single month to start growing!
Good luck for everyone!

It’s not a financial advice!
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We are in a high volume area! I hope that it will be our first proper SUPPORT 5.23-5.33
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If we are looking the extended trading chart, then we are also close to a breaking point to upside. As this far, support holds the price well.. IF it breaks downside then we could see 4.72 again or even going to fill the gap below (but I don`t think that it will happen). Anyway, I`m going to add 1 more position (reason is on the chart)

Trade safe!
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Added at 5.25 1 more position

Be careful! Every day sun don´t shine!
Trade stängt: Stopp nått:

Well.. earnings report did it´s thing and "voilaa" stop reached..
We dropped quite heavily compared to stock price itself.. ~10% or so
Now I wait to fill up the gap below
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