Hi,
My second analysis after a month of learning about the trade. Again, an easy pick; The Hood's favorite: NIO.
Assesment:
- NIO remains overbought at the daily and weekly level.
- A rising wegde formed midday
- Volume decreased as the wedge formed
- indecisiveness during end of day
Using an ABCD pattern and retracement lines my estimate would be a dollar drop by end of day. I put it exactly at a dollar for the sake of it.
They key would be the break of the 12.85 resistance point. We already saw a lot of volume pushing back around the 13 mark. Perhaps not a lot of strenght left there.
After that it maybe a drop below 10 as my previous post mentioned.
I have not taken into account the fundamentels as was mentioned last time. I bought at 13.50 to short so am bearish biased. :)
Look forward to hearing your input!
Hear to learn.
My second analysis after a month of learning about the trade. Again, an easy pick; The Hood's favorite: NIO.
Assesment:
- NIO remains overbought at the daily and weekly level.
- A rising wegde formed midday
- Volume decreased as the wedge formed
- indecisiveness during end of day
Using an ABCD pattern and retracement lines my estimate would be a dollar drop by end of day. I put it exactly at a dollar for the sake of it.
They key would be the break of the 12.85 resistance point. We already saw a lot of volume pushing back around the 13 mark. Perhaps not a lot of strenght left there.
After that it maybe a drop below 10 as my previous post mentioned.
I have not taken into account the fundamentels as was mentioned last time. I bought at 13.50 to short so am bearish biased. :)
Look forward to hearing your input!
Hear to learn.
Nota
Just noticed the pre-market drop to 11.68. Here we GO!?Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.