NIO, Inc (NIO)
By Tue, Sep 15, 2020
Hey there,
Today’s Chart of the Week is NIO, Inc (NIO).
This stock came up from our Under the Hood report that noticed a massive increase in trader attention.
Once we overlaid our technical analysis on top of that big momentum, we noticed a home run.
We’ve got a massive multiyear base going on.
First we saw a nice breakout, followed by a consolidation, and now it’s breaking out again.
This is a textbook uptrend which we expect to continue.
We are LONG above $18 with, with a profit target of $28.
Good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
