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NIO Stock Price Prediction | Buy NIO Stock Now?! ( NIO Stock Chart Analysis ) $NIO - YouTube
Channel: Money Dad
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what's up everyone brad here from the money dad聽
channel in this video i'm going to go over nio's聽聽
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stock chart and a pattern playing out on it that聽
we've been tracking here on this channel for over聽聽
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a month now and the significance there is this聽
pattern projects a price target far to the upside聽聽
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i'm going to break it all down for you in this聽
video and give you the price prediction but first聽聽
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let's talk about the pattern itself so i have聽
nio stock chart pulled up in trading view i'm聽聽
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on the daily candlesticks and we have a massive聽
bull pennant right here playing out and we've聽聽
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already broken out to the upside of it and we're聽
going to project a price target further than that聽聽
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based on this star chart pattern but i just wanted聽
to kind of go over a few things what you know what聽聽
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this stock chart pattern is um the history behind聽
it some volume uh some other indicators so um聽聽
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i'm going to zoom out a little bit more now that聽
we've now that i've kind of shown you what it is聽聽
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i want to zoom out because there is a little bit聽
more going on here that we need to zoom out for聽聽
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so you can see all the way down back into the聽
middle of 2020 nio stock chart has been making聽聽
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bowl pennant after bull pennant after bull pennant聽
and even one right there as well and it's been聽聽
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doing it on some pretty consistently incredible聽
volume and this is important because the volume聽聽
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piece here is as is just equally important as what聽
the price action is doing when we're talking about聽聽
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patterns on stock charts projecting price聽
action we need to know that the volume is also聽聽
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doing its part it's doing what it's supposed聽
to be doing and every single one of these bull聽聽
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pennants here the volume has done exactly what聽
it's supposed to be doing so you can see starting聽聽
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all the way back in the middle of 2020 we had a聽
bull pennant here and this volume was meteoric聽聽
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to create this big up called the flagpole and聽
then the volume dies off as it consolidates聽聽
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right so we have this huge spike of interest huge聽
volume and then there's no buyers left right so聽聽
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it just kind of trickles out uh the price聽
action is just trickling to the side until聽聽
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we get to the point where there is more interest聽
or the already interested buyers have more money聽聽
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and we get another huge spike of volume and we聽
get another huge spike of price right and then聽聽
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we go back into consolidation mode again volume聽
dies off and this happens time and time again聽聽
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look at this bull pennant right here huge spike聽
in volume creates the flagpole consolidation phase聽聽
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no volume right so what are we doing here this聽
time look at all of this massive volume creating聽聽
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this massive flagpole right and now what is going聽
on with the volume here this volume is dying off聽聽
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as we are consolidating and we've created our聽
waves inside of this pennant flag to create our聽聽
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support we've got a couple of touches right here聽
we start at the we start at the top and we've only聽聽
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got one touch right there i thought we were going聽
to get a net another touch and chop out a little聽聽
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bit more and then break out but that's okay we've聽
got two touches up top to create our resistance聽聽
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and we're breaking out to the upside now and we聽
did all of this consolidation all of these waves聽聽
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on descending volume the volume was dying off聽
right and now look what's happening to the volume聽聽
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as we're breaking out what's happening here we聽
are breaking out on increased volume the volume is聽聽
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increasing while the price is increasing this is聽
exactly what we want to see the volume is telling聽聽
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the same story as the price they are in sync they聽
are in unison this is perfect that's exactly what聽聽
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we want to see on this stock chart it makes it so聽
that there's a higher probability to hit the price聽聽
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projections from these patterns when the volume is聽
also in unison with the price action so you really聽聽
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love to see that so we've got the volume playing聽
the part we've got the price action doing what we聽聽
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thought it was going to do and we're breaking out聽
to the upside so so i talked about the historical聽聽
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volume doing its part here on this chart with聽
these bull pennants lots of bull pennants on this聽聽
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chart i really love this chart because it just聽
keeps doing bull pennant after bull pennant and聽聽
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the volume has just been perfectly playing along聽
with it so very cool chart to to watch uh play聽聽
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out or even trade if you are uh trading this or if聽
you're a long-term investor if you're a long-term聽聽
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uh bullish investor on nio then you're gonna聽
love uh this video and if you do like what you聽聽
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are seeing so far please make sure to hit that聽
like button and subscribe to the channel if聽聽
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you're not a subscriber yet if you'd like to see聽
stock chart pattern analysis i have lots of other聽聽
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videos on my channel with price projections price聽
predictions and we've been doing pretty well with聽聽
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these trades so make sure you hit that subscribe聽
button if you're not a subscriber yet so let's get聽聽
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into the price target based on this bull pennant聽
i've been targeting the same range since about聽聽
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the beginning of december when i started making聽
videos on nio i saw this bull pennant playing out聽聽
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and we set a price projection but i'm going to聽
go ahead and do it again just to show you guys聽聽
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how to do it it's really easy on these bull聽
pendants all you do is you copy that flagpole聽聽
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you take it and you start it wherever聽
the next bull trend is starting聽聽
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right so you can see right here this is the聽
bottom of the next bull trend right we broke聽聽
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out above the resistance of this bull pennant聽
right here we broke out so we trace back and聽聽
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say okay this is where this bull trend started聽
right there so we're going to take this flagpole聽聽
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and start it right there boom all right and we聽
and this is our price projection now and look at聽聽
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that we are tracing it pretty well so what do we聽
get an ultimate goal of here 73.89 basically 74.聽聽
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um so that is the price target for this particular聽
stock chart pattern the bull pennant it doesn't聽聽
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mean that uh this stock chart is going to go聽
to 74 dollars and that's it it's going to die聽聽
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it could absolutely keep going past that it could聽
also not reach 74. this is not a 100 percent聽聽
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accurate stock chart pattern nothing nothing聽
in the stock market world is a 100 percent聽聽
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and stock chart patterns certainly aren't any聽
different from that we deal with probabilities聽聽
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here with stock chart pattern analysis and bull聽
pennants have about a 55 chance of reaching their聽聽
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uh price target now that said we are already uh聽
approaching that price target of 74. so i would聽聽
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say that the probability of hitting this one is聽
much higher than 55 at this point um usually bull聽聽
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pennants have a 55 chance of hitting their price聽
target after right after they break out above the聽聽
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resistance right here maybe back in this range is聽
when we had about a 55 percent chance of reaching聽聽
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that target but now that we are this much closer聽
i would say it's far more likely okay so 74 on nio聽聽
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uh volume is coinciding with the price action it's聽
looking really good i do think there's probably聽聽
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more upside to this stock than 74. but i'm just聽
sticking strictly to the pattern here that i see聽聽
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in the price projection that we have from that聽
i'm just kind of bullish in general on nio and聽聽
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the ev industry that said if you look down at聽
this rsi indicator here it does suggest that聽聽
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it's overbought in the short term at least聽
so we could see some pullback over the next聽聽
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couple of days or maybe week or so but i think聽
the general trend is higher i mean it clearly is聽聽
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you know up is the general trend here we just need聽
some consolidation phases once in a while just to聽聽
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give the buyers a little bit of a breather you聽
know i forgot to show you guys in the middle of聽聽
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the video uh how significant this volume is today聽
monday we are looking at the volume leaderboards聽聽
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and nio was the number one volume leader uh聽
for all u.s exchanges they traded more shares聽聽
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of their stock than any other stock on any聽
u.s stock exchange 280 million shares and that聽聽
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created this little volume bar right here so聽
imagine i mean that's high compared to a recent聽聽
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volume but look at some of these spikes in volume聽
i mean nio volume has been absolutely massive for聽聽
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months now i mean almost a year you know at least聽
six months so absolutely massive volume on nio聽聽
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which is super interesting and it's even more聽
impressive that you can get these kind of spikes聽聽
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like that when you're talking about that kind of聽
massive volume so our friends over at barchart.com聽聽
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they also uh are a big believer in the technical聽
indicators here on nio they are giving nio a聽聽
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100 percent buy rating and they rank it in the top聽
one percent of all short-term signal directions聽聽
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long-term indicators fully support聽
a continuation of the trend聽聽
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the market is in a highly overbought territory聽
like i said on the rsi indicator beware of a聽聽
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trend reversal okay so bar chart there agrees with聽
me that the rsi is overbought and we might see um聽聽
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a little bit of sell-off here over the next couple聽
of days but i do think the general trend is higher聽聽
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so to sum it up nio still has plenty of room聽
to run to the upside from a technical analysis聽聽
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perspective anyway the bull pennant chart pattern聽
projects that 74 dollar price range for this聽聽
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stock and the technical indicators over over at聽
barchart.com are extremely bullish on this stock聽聽
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as well so um that's all i've got if you enjoy uh聽
chart pattern analysis be sure to check out the聽聽
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other videos on my channel and hit that like and聽
subscribe buttons down below if you haven't done聽聽
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that yet i'll see you guys in the comments down聽
below and in the next video thank you for watching
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