Hello traders and investors! Let’s see how NIO is doing today!
It hit our target at the 21 ema, as we discussed in my last analysis, and it almost hit the pink line as well. If you missed my previous analysis, the link to it is below, as usual.
Now, it is doing a quick pullback, as it should, since it just reached a resistance zone, but there are some points to keep in mind. The red and purple lines are relevant supports for NIO, and the pink line was a support in the past, and it is supposed to work as a resistance now. And about the green line at $ 48.60?
This green line is a pivot point. It is going to take some time for NIO to defeat today’s first candlestick, which was quite bearish, and just after it hit the 21 ema, but if it does, it’ll be a great sign. If NIO triggers this pivot point, I believe that the pink line won’t hold the price.
Sometimes, a pivot point in the hourly chart can be at the same time a Gift candlestick pattern in the daily chart as well:
And in this case, we have a Gift, which is just a small candlestick that appears after a huge one, which is just a correction in smaller time frames. And this is how you do a proper Multi Time Frame Analysis (MTFA), you use the patterns seen in different time frames and build one single story with them.
Tomorrow we’ll see if this is a real Gift or not, but so far, NIO is looking good. The volume of yesterday’s bar was great, and it is trading above the 21 ema again, and so far, no reversal sign.
And if you liked this analysis, remember to follow me to keep in touch with my daily updates. And please, support this idea if you liked it!
Thank you very much.
It hit our target at the 21 ema, as we discussed in my last analysis, and it almost hit the pink line as well. If you missed my previous analysis, the link to it is below, as usual.
Now, it is doing a quick pullback, as it should, since it just reached a resistance zone, but there are some points to keep in mind. The red and purple lines are relevant supports for NIO, and the pink line was a support in the past, and it is supposed to work as a resistance now. And about the green line at $ 48.60?
This green line is a pivot point. It is going to take some time for NIO to defeat today’s first candlestick, which was quite bearish, and just after it hit the 21 ema, but if it does, it’ll be a great sign. If NIO triggers this pivot point, I believe that the pink line won’t hold the price.
Sometimes, a pivot point in the hourly chart can be at the same time a Gift candlestick pattern in the daily chart as well:
And in this case, we have a Gift, which is just a small candlestick that appears after a huge one, which is just a correction in smaller time frames. And this is how you do a proper Multi Time Frame Analysis (MTFA), you use the patterns seen in different time frames and build one single story with them.
Tomorrow we’ll see if this is a real Gift or not, but so far, NIO is looking good. The volume of yesterday’s bar was great, and it is trading above the 21 ema again, and so far, no reversal sign.
And if you liked this analysis, remember to follow me to keep in touch with my daily updates. And please, support this idea if you liked it!
Thank you very much.
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
