This one has been frustrating the advanced breakouts in the RSI, and it has not doing anything interesting recently. Situations like this are very annoying, but letās keep in mind that at some point it will do a good movement next.
This is a congestion, and we can break to any direction. But letās watch the 46.80 and the 44.59.
If we break the 46.80 then fine, NIO will just go higher to the 50 and continue the bull trend. But by losing the 44.59 we might see our stock at 42.67 again, and with a good chance of losing this price level.
For now, thereās nothing to do, but Iāll keep you guys updated. But I agree that movements like this makes us disappointed with NIO, but this drop occurred on many stocks, not only NIO. Personally, I have many other stocks on my radar, just waiting to be traded.
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