NIO is the Tesla of China, or more accurately Tesla's greatest competitor in mainland China. It is up from under $5.00 at the March market lows to a high of $57.20 on November 24th. Since that high it has come down to a current level of $46.00. This is where it gets interesting. Based upon pattern recognition, a daily close above $47.00 would trigger a continuation of the rally with an Intermediate Term Buy Signal, while an hourly close below $45.00 would trigger a Short-term Sell Signal. In other words a break-out above $47 or a break-down below $45 would trigger a trading signal, one way or another. Stand-by for a trade: Calls or Puts.
