Quick update on NIO here. After a tremendous rise throughout 2020, NIO caught the eye of many people, me especially I first bought in at $14 but when it inched closer to $50 as soon as three months later, that was a big no no for me. So ever since then it went a bit higher. Fast-forward to today, however, it's back around $35, which makes me wonder...is the EV hype dying? Are valuations going back to normal? The on-going chip set shortage is clearly having massive strains in the industry. And recently, the prospect of higher bond yields, greater interest rates and a comeback of may significantly harm fast-growing companies like NIO . The same would not really apply to Tesla , since it is already a well-established, grown-up company.
Now off to the chart - as you can see on the for NIO here, you can clearly see a descening triangle with decreasing . This is alarming, because something that looked a few weeks ago as a potential , is now looking pretty . If price breaks anywhere below $35, NIO may see an even lower low later this month. The decreasing also confirms the pattern. However, there can also be a approach to this. The price may squeeze, with the decreasing , and send the price back upwards towards $40. Nonetheless, there is a lot of uncertainty around this price action, so my guess would be to first assume a case here, but be open to the idea of a price reversal.
Note: Not professional financial advice - please do your own DD.