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NIOdless To Say

ByTim Knight
Published 11/13/2020, 03:56 PM
Updated 07/09/2023, 06:31 AM

Five months ago, I introduced Nio (NYSE:NIO) to Slope as a long idea. Since then, it has appreciated about 800%. As the intraday chart below shows, this thing is an absolute bottle rocket.

NIO Intraday

Of course, every teenager with a trading account has been going ape over it, and if you wander over to WSB, almost every single meme is about NIO, which has definitely pushed aside Tesla (NASDAQ:TSLA) and Musk as the obsession ofWSB.

I took this as a signal of the end, so I shorted the hell out of it (virtually speaking) here on Slope.

The daily chart shows what a fantastic inverted head and shoulders the chart was back when I suggested it. This, like Bitcoin, is one of those financial instruments which Goes Up Until It Doesn’t Anymore.

NIO Daily
As an aside, the bloom is definitely off the Tesla rose. If this triangle breaks, bye-bye to price stability.
Tesla Daily

Latest comments

Will be $165 soon
I blive in chines ecnomy , today singed agremment wit pasfic cointries will get china to new star of growth
RCEP agreement  includes all  countries of the area except India. Chinas economy will benefit form that for sure.
Its not only teenagers on RH who owns Nio stock. Just sayin...
nio multi facet ev co will top all
NIO will tell more about it on Tuesday :)
Tim Knight sounds like a fortune teller but his fortune is running out of steam. Better change your course Tim and go long. Its still not late. Tesla is a half a trillion $ company with 500K cars. NIO is one tenth of that but NIO with an access to a massive home market will grow a lot faster than Tesla ever grew.
Tesla has full access to the same market. Did you forget that TESLA has a factory in China?
They want this, they need this, it’s part of the Matrix to save the worlds air we breath.
the problem here is that you think that chinese people think and act like US people do. And that is the biggest mistake that people make not just in the stock market but business in general. And not just US and china but any other cultures.
Nio will rollar coaster into 2021. The LT fundamentals are sound and are building, so Investors should buy the dips. Traders can buy the dips and sell the ST rallys.
buy Xpeng instead of NIO.
I bought both
same here
Renault sell 54000 EV this year (till August). How much sell Xpeng and NIO?
It means that it can break to up side and jumping TSLA
If you don't understand the right, you shut not invested at orll. If you want to have a advice go to a professional investment advisor.
Hello Tim, this seems to be an ascending triangle. So do you believe that we may see a further upside on stock price?
He is not a prophet but if citron will insists to sort it for a few more days then you can buy the deep (see citron's price target) and then you can have an upside. It will take some time to return to the top and it will most probably hit new heights. Check also Xpeng and be aware of the  RCEP signed by 10 Asian countries.
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