NIO Inc. weekly uptrend opportunity based On 1.00 Lot Calculation:
- Nio is a pioneer and a leading manufacturer of premium smart electric vehicles in China. Founded in November 2014. The company is headquartered in Shanghai, China.
- UPDATE: Nio released quarter earnings results on April 29, 2021; EARNINGS PER SHARE (MISS): -3.14 yuan VS. -0.72 yuan expected. REVENUE (BEAT): 8.0 billion yuan vs. 7.5 billion yuan expected. VEHICLE DELIVERIES (MISS): 20,060 VS. 20,070 expected.
- CAR DELIVERY FOR April 2021: Deliveries in April were 7,102 compared with 7,257 from the prior month (Down 2.13% month-over-month). Compared to last year, they reported a 125% boost. The company is expecting vehicle deliveries of between 21,000 and 22,000 in the second quarter.
- EVENT: NIO TO ENTER NORWAY AND OTHER EUROPEAN COUNTRIES: Nio officially announced its market entry into Norway at the NIO Norway Press Conference, marking its first step overseas. The ES8, Nio’s smart electric flagship SUV, will be the first vehicle model introduced to Norway, with the ET7, the company’s smart electric flagship sedan, set to follow in 2022. Nio Norway’s first service and delivery center in Oslo will also open in September. By the end of 2022, Nio estimates to have battery swap stations in Norway. Nio plans to enter Germany in 2022 as well.
- NIO TO LIST IN HONG KONG: Confirmation from the company regarding a potential secondary listing in Hong Kong is also seen as a positive for the stock. With the listing, the company is setting up the possibility of expanding its investor base and in turn financing sources.
- PRICE ACTION (NIO STOCK MAY TEND TO RECOVER): NIO stock currently trades around 40% below its recent all- time high of $66.85, tested in January 2021.
- ANALYST OPINION: On May 3, Morgan Stanley analyst Tim Hsiao reiterated a Buy and a price target of $64 (73% upside potential) on the stock. Credit Suisse forecasts $71, while Deutsche Bank sits at $70 a share. JP Morgan targets $70 a share. The average analyst price target of $60.04 indicates upside potential of around 63% from current levels.
NIO Inc, May 10, 2021
Current Price: 36.50
|
NIO Inc. |
Weekly |
|
Trend direction |
|
|
54.00 |
|
|
49.00 |
|
|
43.00 |
|
|
30.00 |
|
|
25.00 |
|
|
20.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
NIO Inc. |
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|
Pivot Points |
||||||
|
Profit or loss in $ |
17,500 |
12,500 |
6,500 |
-6,500 |
-11,500 |
-16,500 |
|
Profit or loss in €** |
14,391 |
10,280 |
5,345 |
-5,345 |
-9,457 |
-13,569 |
|
Profit or loss in £** |
12,403 |
8,859 |
4,607 |
-4,607 |
-8,150 |
-11,694 |
|
Profit or loss in C$** |
21,210 |
15,150 |
7,878 |
-7,878 |
-13,938 |
-19,998 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 13:15 (GMT+1) 10/05/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details