It’s a fine line between buying the dip and catching falling knives, but let’s be real, most of us aren’t able to bring ourselves to turn bearish. If you’re still bullish on this market then you gotta go long, so here are some setups worth watching!
The Reads: NIO⭐️, ENPH, X, GME, SOFI, ROKU
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1. 📈: NIO
In just three years, Nio has reported impressive year-on-year growth in delivery numbers and managed to narrow the losses. With a massive domestic market and an entry into the International market, the EV maker is well-placed in the industry.
The new battery will help Nio achieve higher sales by pushing down the prices. As the EV industry continues to expand, Nio is strengthening its hold on the market. How the company performs in Norway will speak a lot about its ability to establish itself as a global brand.
The dip is the perfect chance to add NIO stock to your portfolio.
I believe anything below $40 is a good bargain.
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📊 NIO: Chart
2.📈: ENPH
The equity sports attractively priced premiums at the moment, too, making now a prime time to weigh on ENPH's next move. The security's Schaeffer's Volatility Index (SVI) of 58% stands higher than 18% of readings from the last 12 months. This indicates the options market is pricing in low volatility expectations for the stock at the moment.
It is also worth noting ENPH ranks high on the Schaeffer's Volatility Scorecard (SVS), with a score of 93 out of 100. This means the equity has consistently realized higher volatility than the options pits have priced in, making it an ideal premium-buying candidate.
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📊 ENPH: Chart (Daily)
3.📈: X
Domestic futures prices for HRC have more than tripled in the past year. While the predictions for steel prices moving forward are mixed, if prices remain at current levels for an extended period, this could be a golden opportunity for investors.
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⌚️: Beneath 50 ema?✅ Beneath 200 ema?✅
📊 X: Chart
4.📈: SOFI
Perhaps the most important takeaway from the weekly time frame of SOFI stock is the significance of support at $14. After its IPO, it initially acted as resistance but quickly turned to support once prices finally vaulted above that level.
We’ve seen multiple tests this year, and buyers have defended their turf every time. If nothing else, this gives us an obvious level to build trades around. Simply put, if SOFI is above $14, you want to be long the stock.
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📊 : SOFI Chart
5. 📈: ROKU
Roku's stock has cooled off of late, and now may be an optimal time to buy in -- it hasn't been this low in months. The rise of streaming services seems unstoppable, and given Roku's growing user base in that expanding segment, this could be a top growth stock to hold for many years.
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⌚️: Beneath 50 ema?✅ Beneath 200 ema?✅
📊 ROKU: Chart
Good luck catching those falling knives out there ✌️