I do believe in this stock long term although last jump was a little overdone in my opinion.
Bought cheap put options yesterday @ 9.50 17/07.
Hopefully TSLA sees some resistance at some point which could discourage NIO - correlation is clear between the two stocks.
MACD will probably test the signal line and breakdown. Gann box not perfect but seems to show broadening wedge between 0-0.5 and 0-1 which could again translate to consolidation at 9 ish .
Also entered long (little late) at 7 ish and will most likely accumulate when pullback is over.
First idea that I'm sharing - feel free to drop comments.
Cheers
Bought cheap put options yesterday @ 9.50 17/07.
Hopefully TSLA sees some resistance at some point which could discourage NIO - correlation is clear between the two stocks.
MACD will probably test the signal line and breakdown. Gann box not perfect but seems to show broadening wedge between 0-0.5 and 0-1 which could again translate to consolidation at 9 ish .
Also entered long (little late) at 7 ish and will most likely accumulate when pullback is over.
First idea that I'm sharing - feel free to drop comments.
Cheers
Cheers