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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Breaking: Big ticket investors are rushing into this $3 “AI wonder stock”
Check out how to join them right here.
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
