NIO got this descending triangle going on the daily...its been holding demand (support) fairly well but if the bulls cant push through this trend line and supply, we might be falling back into the 20s soon.
I personally am looking for a break of the trendline and NIO over $43 before becoming bullish again... as for now... I am shorting NIO with a PT of $26.32
My positions: Currently only holding 5/21 $40 puts but I am looking to add more once NIO looses support around $35
I personally am looking for a break of the trendline and NIO over $43 before becoming bullish again... as for now... I am shorting NIO with a PT of $26.32
My positions: Currently only holding 5/21 $40 puts but I am looking to add more once NIO looses support around $35
