The Long Investor

$NIO TOP 20

Added 2023-08-28 09:47:56 +0000 UTC

It's another Monday morning and $NIO is green in the PM, most days last week $NIO started the day in the PM green but finished flat for the day, for me, this was a positive as it maintained a crucial support line for the week too.

Chinese policy makers appear to be making a habit of announcing support measures for their economy on Sunday and Monday morning. They have relaxed guidance on residential housing loans and have halved the stamp duty on stock trading.

Also this morning, $DIDI has sold its smart EV unit to $XPEV in a share deal, $XPEV is up 4.5% on this news.....this could help Chinese EV's today too.

$NIO has its earnings report out before the market opens tomorrow.

So please be mindful of any large pumps at the opening as there may be some profit taking before the close today.

Also, before $NIOs earnings report on the 9th of June, many were expecting this to be a catastrophe and the report was not impressive but the stock ran from $7.70 to $16.20 after this earnings report.

So all I want to see this week is that the support line at $10.20 is held, the 200 Day MA is still at this line too.

A big positive would be if we can see the share price go above the 50 Day MA at $11.40 and hold above.

This should get us through this week and any rockiness in the market.