blazejmax

Nio - Is reversal really happening today?!

Long
NYSE:NIO   NIO Inc.
1) NIO has shown strength in the last few days, alike many other EV stocks

2) NIO posted record high deliveries for Q1 and indicates the launch of production of a new sedan with the most advanced technology we've seen in a car to date.

3) Technical analysis shows A nice double bottom has formed on the chart. It perfectly bounced back at the level where the first bottom was formed.

4) $40.02 is our first level of resistance - it's an important level we do want to break and keep on moving to former support at $45 to indicate a strong reversal move

5) The rotation, interest rates, employment new figures and bond yields may stimulate the stock growth.

6) The chip shortage and potential 8% dilution in Hong Kong listing may act as a counter force.
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