Trade Idea: NIO is poised for an uptrend: 1. A series of higher highs and lower lows before reclaiming/maintaining > 20MA again 2. Price action is >200MA again since February 3. Bullish engulfing on D 4. Price action > 44.98 (POC of Volume Profile) 5. Catalyst: Announced increased production capacity by 2x via 2nd factory plans, EV interest
Look for: 1.Support over critical areas: POC, 200MA, and marked KL's 2. International policy/economic news that can affect ADRs 3. Capital transition back to EV's 4. Upcoming events: - June 16, 2021: Virtual Deutsche Bank Global Auto Industry Conference -August, 2021: Q2 ER
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