NIO to $107

31 août 2021

NIO is up for another strong Q4 in terms of price action. Q4 2020 was pretty sweet for NIO investors as price rose from around $20 to the high 60's. NIO has been forming a triangle pattern since the beggining of 2021 and is about to break it within the next 1-2 months, likely continuing the trend to the upside. Also, price perfectly respects fibonacci levels, with the bottom being $1.19 in March 2020 and the top being $67 in January 2021. I think we can expect price to reach the 1.618 fib level of around $107 sometime in Q1/Q2 2022.

Still it is important to consider the current uncertainty in chinese stocks. But with the EV space blossoming and TSLA leading the way with positive price action, my medium term price target for NIO is in the low 100's

Thanks for reading.

Not financial advice, dyor.

22 nov. 2021

Note

I wanted to provide a quick update on my views on NIO. So far we have seen a somewhat lackluster action in Q4. I tend to use mainly technical analysis, but I cannot look over the Evergrande effect on Chinese stocks and I think the uncertainties there definitely made investors turn to the American market when it comes to EV stocks, as we saw Lucid and RIvian make good moves recently. Tesla of course is to be treated as the EV Index of sorts, so the price action there makes me optimistic about the space in general, and I see no reason why NIO would fall behind in the long run.

In terms of price action, we are still moving in the $30-45 range, so I'd like to see a weekly close above $45 before I get too optimistic. I still think $100 is acheivable by the end of Q2 2022 and I reckon NIO is a good DCA at the moment.

Thanks! dyor