NIO Setting up for a potential ER RUN

19 Nis 2021

NIO has been beaten down the past couple weeks. I believe it's setting up for an ER run along with other big catalyst that are going to to be releasing in the next couple weeks. Here are the list of dates for NIO catalysts.

April 19th - 21st: Shanghai Auto show (opens to press only)
April 21st - 28th: Shanghai Auto Show (opens to general public)
April 29th: Q1 2021 ER
May 1st - 7th: Delivery Numbers (expected to be 7500 from 3155 previous yoy)
May 7th: Showroom in Oslo, Norway

There's a good support at $32.00 and could be a good entry for a starter position. We have a supply zone around $28 area and a gap all the way down to $22. I would suggest grabbing some starter position on Monday, April 19th and look to average down on those levels for 3rd week of May contracts. If NIO responds good to these catalyst, we might see it testing $40 - $45 level.