Nio is making IMPULSIVE move in downward direction indicating of strong downward trend and is looking more than likely to break 30$ support and flush down to even Gap No. 1 then up until Major Support Nio can slide down.
This is also coupled with how chinese stocks are being threatened and US Investors are losing their faith in some Chinese stock and even Alibaba stock hasn't found it's bottom.
That is why, Trade Safely and enjoy this educational Idea about Nio.
This is also coupled with how chinese stocks are being threatened and US Investors are losing their faith in some Chinese stock and even Alibaba stock hasn't found it's bottom.
That is why, Trade Safely and enjoy this educational Idea about Nio.
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Please have a look at this idea to get more info about why this trade failed :-
But please be cautious of Chinese stocks where investor confident has to be put to test so badly and considering Nio gained more than 10x from last year lows so just be careful as this looks more likely a distribution zone than anything else.