The Long Investor

$NIO TOP 20

Added 2024-11-18 10:38:09 +0000 UTC

$NIO finished the week at $4.50 and has opened in the PM healthy this morning.

I have added the RSI indicator to show how oversold it is right now and it is sitting at 33, as we know, anything below 30 would historically mean oversold and that correlates to the decline from $7.60 to $4.50

This oversold indicator is also aligning with the earnings report due this Weds before the market opens.

In Sept when they reported last, the share price was at $4.30 and they produced a surprisingly impressive report and the share price jumped to $7.60 from this point.

If we get another equally good report, the same may happen again....the market loves seeing trends, so a continuation on their last performance should help $NIO.