Look Out For NIO Trade Today!
$NIO Inc.(NIO)$ has reported to add 29 swap stations into operation, most ever in single day. And looking at how NIO has traded over the last 5 days.
NIO has gathered a very nice upward trend. And my A.I. model has predicted NIO to have a BUY signal.
This prompt me to look at the technical side of things to see how NIO is faring.
NIO Pre-market Bullish Engulfing and Good Mass Index Indicator Reading
NIO show a bullish engulfing 5 mins into pre-market and it has been gaining more than 2% at time of writing (6:30pm 30 June 2023).
And we check the Mass Index Indicator, it is showing that it has cross the threshold level of 27, and does not cross back down to 26.5, this show that there is no risk of a reversal.
But I think we need to use more indicators to see the actual trend NIO is trading.
Moving Averages Actually Show NIO having a Bearish Trend
If we use SMA50/200, actually NIO is currently in a bearish trend. So this does not explain the recent price surge over the last 5 days.
I will use another 2 indicators (RSI - to check momentum, Parabolic SAR - check for potential reversal (to confirm the findings from Mass Index).
RSI momentum for NIO seem to be good
NIO is not going into either the overbought or oversold region. So I would think the RSI momentum for NIO is acceptable.
Parabolic SAR does not show any potential reversal
There seem to be a near miss NIO going into a bearish reversal, but it seem to continue its bullish uptrend move.
Hence, I would think we can consider NIO for a long position.
Summary
Based on what I have observed and gathered, I feel that NIO can be considered for a LONG position.
Considering that NIO has a pretty decent amount of battery stations in China, I believe they are in a good position for more customer acquisition.
Appreciate if you could share your thoughts in the comment section whether you think NIO can be considered for a LONG position?
@TigerStars @Daily_Discussion @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.
Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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I am a Neo vehicle bull but I must say the xpev G6 vehicle looks pretty sweet and it's priced under 30k for the base model. got to give them some credit. I imagine it's going to sell
Your A.I. model knows its stuff! Time to jump on the NIO train
I can't resist a good BUY signal. NIO, take my money!
NIO's upward trend is making my heart race with excitement!
Wow, NIO is on fire! 🔥 I'm feeling the FOMO kicking in
That's some serious swapping action by NIO!
NIO surprises the unexpected.