NIO - $4.60 price target on Weekly Bear FLAG
There looks to be a bear flag setting up. The flag is now setting up nicely on the Weekly Chart and is rock solid intact. The longer it solidifies the flag, the more likely it plays out. Watch for a imminent break, if cracked flag, measured move to the downside is around $4.60 which is also around a past support area.
Remember last year when NIO had $8 billion in cash and people were saying "don't worry". Well now NIO has less than $2 billion in cash and two dilutions within 3 months, with more to come. $NIO Inc.(NIO)$
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