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Bullish Momentum vs. the Fed

Hey, Ross here:

And let’s look at yet another actionable trade idea – one that’s already paid dividends.

Chart of the Day

NIO is basically a Chinese Tesla. They are an electric vehicle manufacturer with seven models in production and have so far delivered around 400,000 units.

I don’t typically like Chinese stocks, but last Friday, I said this one looks poised for a breakout higher – and I was right.

NIO closed at $13.17 yesterday, meaning those who had gotten access to this trade idea when I posted it last Friday could now be sitting on a 25% gain – all in just a few days.

However, I think NIO is still buyable at this level. Check out my stage analysis for NIO stock on a weekly chart covering the last four years.

The first breakout into a new Stage 2 uptrend is, without question, the best place you can buy a stock. 

And as you can see, NIO still looks to have plenty of room to run.

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Insight of the Day

The muted reaction to the Fed’s latest rate hike shows that bullish momentum is still winning.

Yesterday’s 0.25% hike was already priced in.

But what was more important was that – despite Powell explicitly leaving the door open for further rate hikes down the line – the market actually closed higher.

This is a sign that bullish momentum is winning.

When that happens, you can expect more and more new Stage 2 breakouts (like NIO above).

And if you have a strategy designed to spot these impending Stage 2 breakouts – you could make a killing.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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