Nio Ready for A Gap Up, Record Number Deleveries Should Push It

Jan 3, 2021

Nio just announced record deliveries of over 100% yoy and 3 month deliveries. NIO price should follow the good news as the catalyst is there alongside EV hype such as TSLA. Typically EVs follow TSLA after it has a run such as the one it had last market close peaking at $720+. I also see a lot more upside than down but we can't forget about what happened after the past good news report when NIO announced good numbers and it dropped immediately after.

I already have a weekly call position in the mid 140s that is a sell the news move. I was and am banking on NIO putting out the good numbers + announcing something big enough for a gap up at NIO day on JAN 9th.

Jan 6, 2021

Note

I closed this position on Monday and haven't play NIO since. The current close as of 1/6/21 shows a bearish engulfing candle and I feel a repeat of TSLA's battery day may be in the making.

I'd sit it out and find a good entry to go long as NIO, LI, and XPEV will do great in China in the long term.