Hello traders and investors! Let’s study NIO today!
As we discussed in my last analysis (link below, if you missed it), the green line at $ 43.83 is an important support level, and it is still holding the price. This makes this support quite strong, and as far as I know, the Risk/Reward ratio is usually very good near support levels.
We have a new pivot point now, the black line at $ 45.46, and if NIO trades above it, we’ll see something new. It would cancel this Dark Cloud Cover pattern under the 21 ema, and it would defeat the resistance at the 21 ema as well. And the daily chart reinforces this idea:
If NIO triggers this pivot point, it will at the same time trade above today’s high, and above the 21 ema in the daily chart as well. Today’s candlestick could be a Harami pattern.
So, we have multiple positive signs, and all of them could be triggered if NIO triggers the pivot mentioned in this analysis. This could make NIO defeat the pink line at $ 48.65 and seek the All Time High again. And if this analysis helped you, please, support it! And follow me to keep in touch with my daily analyses!
Thank you very much.
As we discussed in my last analysis (link below, if you missed it), the green line at $ 43.83 is an important support level, and it is still holding the price. This makes this support quite strong, and as far as I know, the Risk/Reward ratio is usually very good near support levels.
We have a new pivot point now, the black line at $ 45.46, and if NIO trades above it, we’ll see something new. It would cancel this Dark Cloud Cover pattern under the 21 ema, and it would defeat the resistance at the 21 ema as well. And the daily chart reinforces this idea:
If NIO triggers this pivot point, it will at the same time trade above today’s high, and above the 21 ema in the daily chart as well. Today’s candlestick could be a Harami pattern.
So, we have multiple positive signs, and all of them could be triggered if NIO triggers the pivot mentioned in this analysis. This could make NIO defeat the pink line at $ 48.65 and seek the All Time High again. And if this analysis helped you, please, support it! And follow me to keep in touch with my daily analyses!
Thank you very much.
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