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r/nio
Price action was rough but the big picture hasn't changed
Investor summaryBullish
Author attributes NIO's recent drop to the broader market, citing strong recent news and technical support to maintain a bullish outlook.
Bull points
- Abundance of positive news over the past month.
- Recent price drop is attributed to the broader market downturn rather than company-specific issues.
- Stock found technical support at the 1-week level after last year's initial run-up.
Post body
There has been SO MUCH good news recent even just looking at a snapshot of the past month (can reference on TradeRadar if desired). I can't help but feel like price action this week was a result of the general market trading down. If anything, we've mostly gotten better news this week.
On top of it, from a TA perspective we essentially bounced off the 1 week support since the initial run up from last year... Feels like bullishness hasn't died yet!
Is everything still holding confidence in what's coming?
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