✅10%+ move indicated in pre-markets
✅This will put NIO above the PoC(Point of Control)
✅ With the RSI Bullish Divergence this presents and opportunity to enter a trade above PoC and to place a stop under it with an almost 8:1 Reward to Risk.
I have a long term medium sized position in NIO so i have been watching the chart for opportunities.
⚠️Obviously we are below the 200 day SMA and it is still sloping downwards so this is a major concern and thus the stop loss is critical and should be a hard stop if this is a short term trade.
For long term position folk, we will watch and wait as our long term positions are in place and just got a 10% boost today. lets see how price reacts to the 200 day SMA once we meet it.
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