NIO, Inc (NIO) - Trade Stocks

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.