Hello traders and investors! Let’s see how NIO is doing today!
First, NIO lost the black line at $ 45,57, which we discussed in my last analysis, but I still wouldn’t consider it as the end of the world, as NIO is trying to react now. If NIO closes again above the black line, the market may see this movement as a false breakout, and this would be very frustrating to the bears.
There’s the possibility that the first candlestick we had today was an Exhaustion Bar. The volatility is quite high here, but it seems the support around the green line did a good job holding the price.
As far as I know, any good reaction here would be very good for NIO. Now, let’s see the daily chart:
The next Key Point is the pink line at $ 48.65, and NIO must close above it again to resume the bullish trend in the daily chart. This could easily lead NIO to the ATH levels again, but if this is going to happen, we’ll see the volume increasing.
For now, the volume is still low, an indicator that the stock is just “sleeping”, gathering strength to the next explosion. If this was a real sell off the volume would look different.
Either way, NIO must react quickly, and try not to close below the 21 ema, as this could make NIO drop to the $ 38 again.
Let’s continue monitoring NIO closely, and if you liked this analysis, please, support it! And follow me to keep in touch with my daily studies!
Thank you very much. Have a great week!
First, NIO lost the black line at $ 45,57, which we discussed in my last analysis, but I still wouldn’t consider it as the end of the world, as NIO is trying to react now. If NIO closes again above the black line, the market may see this movement as a false breakout, and this would be very frustrating to the bears.
There’s the possibility that the first candlestick we had today was an Exhaustion Bar. The volatility is quite high here, but it seems the support around the green line did a good job holding the price.
As far as I know, any good reaction here would be very good for NIO. Now, let’s see the daily chart:
The next Key Point is the pink line at $ 48.65, and NIO must close above it again to resume the bullish trend in the daily chart. This could easily lead NIO to the ATH levels again, but if this is going to happen, we’ll see the volume increasing.
For now, the volume is still low, an indicator that the stock is just “sleeping”, gathering strength to the next explosion. If this was a real sell off the volume would look different.
Either way, NIO must react quickly, and try not to close below the 21 ema, as this could make NIO drop to the $ 38 again.
Let’s continue monitoring NIO closely, and if you liked this analysis, please, support it! And follow me to keep in touch with my daily studies!
Thank you very much. Have a great week!
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