Headline:  Is NIO The One?

Hi Shoppers,

I am seeing a bearish set up in Nio Inc (Ticker:  NIO):

Monday’s candle is a bearish engulfing formation and we have lower trade today giving us confirmation.

Looking at the options, the July 8 expiration at-the-money could be a good purchase:

The July 8 22 puts around a dollar look like a good purchase to me.

I think NIO could trade back down to $20.39, then $18.70 and possibly to the 50-day moving average at $17.70.

Trade Review

In my last write up, I talked about Kinross Gold Corp (Ticker:KGC) bouncing. That lasted a day. KGC completely fell out of bed yesterday. It is now testing its recent lows at $3.80. 

Watch gold (GLD and GOLD) and the dollar (UUP), there are still cheap calls to be had if this stock bounces.

Thanks for Reading … See You Next Tuesday.

Licia Leslie