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Tuesday, 18 September 2018

NIO Inc (NYSE: NIO): 18 September 2018, Tuesday, 1.03am Singapore Time


NIO Inc (NYSE: NIO): 
18 September 2018, Tuesday, 1.03am Singapore Time
(Click on Technical Chart above to Expand)

Attached is the Technicals for NIO Inc (NYSE: NIO). The less concentrated buy as illustrated on chart is where retailers had been buying. The highly concentrated and highly focused sells as illustrated on chart is where retailers' nightmare will begin. Less concentrated buy is met with highly concentrated sells -- retailers (the herd) are to die with a breakdown of $6.00 support. NIO, which the herd deemed to have brighter prospects than Tesla, will break down $6.00. NIO's competitor -- Tesla, which the herd regards as hopeless, will rally up, up and away. My takes on NIO-Tesla pair is reaping rewards. I will reverse only when the crowd is bullish of Tesla and despair on NIO.

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