Speculative play on NIO
With the recent hype on NIO INC IPO, retailers are putting their eyes on this counter. It was easier to trade on the Initial 2 days as the buyer demands were quite obvious. Now comes the tricky part after the 3rd day of trading. Huge sell off took place which causes the counter to halt twice within the 10 mins - 15mins.
So what's next? The potential growth of this counter is huge taking into consideration that it will rival Tesla. However there is a big risk taking the trade now as there are going be too much speculation. What we can do is to watch the price plays and catch it on the tested support/demand level. We reckon that there will be more sideways plays before considering the next break out.
So what's next? The potential growth of this counter is huge taking into consideration that it will rival Tesla. However there is a big risk taking the trade now as there are going be too much speculation. What we can do is to watch the price plays and catch it on the tested support/demand level. We reckon that there will be more sideways plays before considering the next break out.
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