Shares of NIO Inc (NIO) are flat today but down sharply from the recent highs. The stock is trading just above $36.00/share, down from over $65.00/share. Based on the technical chart setup, there is a bearish wedge formation that signals further downside in the coming weeks. Ultimately, the technical analysis shows major support at a price point of $21.75. This level sets up beautifully as a swing trade and possible longer-term investment level. The bear wedge breakdown to this target will occur as soon as a daily closing low below $35.50 occurs. This will trigger the bigger move down to the $21.75 ultimately technical target.
Members of Gareth’s Verified Investing Alerts closed out a total of 206 swing trades in 2020 for a net gain of 1,507.67%. Gareth has already banked 425.85% net (45 winners, 1 loser), in Verified Investing Alerts in 2021 for members! Join now and get the exact entry/exit price alerts, stops and targets…LIVE as well as daily videos, weekly live broadcasts and free educational videos. Get The Action NOW by Clicking HERE.