The broader market has seen various 2020/2021 growth stocks that bottomed out with similar charts run it back to their highs over the course of the year so far.
One sector that hasn't yet - is EVs.
The space has been slept on, in large part due to the underperformance of TSLA.
I think that's about to change.
$TSLA looks ready to rip from a technical perspective, and from a fundamental perspective it's had enough people start publicly proclaiming it's funeral that I think it's in the perfect spot to wake up again.
The last time EVs had a major run was the summer of 2020.
While $TSLA obviously had the highest mcap and largest impact, the smaller names like $NIO actually outpaced for the first five months of the move.
As bullish as I am on TSLA, looking at the ratio chart NIO once again looks ready to outpace.
I started stacking this play earlier in the week, and while I wish it hadn't started moving so quickly yet - I still think this is a great opportunity to "buy into the momentum".
The price is at almost the identical level where it gapped up after breaking out in 2020.
Buying into the green days was a good play.
I'm not encouraging anyone to full port ape here, but I still think it's a solid time to start building a position.
I'll update my exact positions later - but I'm focusing primarily on calls with 2026 expiration dates.
No need to get greedy and try and time the move perfectly.
Give yourself enough time for this to play out.
Buying spot is also always a safe play and should still catch a lot of upside on this breakout.
Only reason I'm not sharing strike prices yet are because I know some of y'all are probably tempted to blindly copy what I post - would rather give everyone the opportunity to pick up spot shares or pick a strike that they feel comfortable with and go from there (ideally in 2026)
$NIO continuing to move higher in premarket action
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