NIO: A bullish reaction in a support zone (again)!
Hello traders and investors! Let’s see how NIO is doing today!
Well, in my last analysis I was looking at a Harami pattern, that could help NIO resume the bull trend, but the pattern was frustrated, and I think it is easier to quote myself here: “But if NIO loses the Harami’s low, meaning, the $ 44.70, there is no other support before the red line to hold the price.”. The link to my last analysis is below, as usual.
Now that NIO hit the target at the red line, is starting to react, which is good, but it has some resistances to defeat in order to resume the bull trend. The 21 ema is still pointing down, and the purple trendline looks powerful too. If NIO defeats both points, then only the pink line will remain.
Let’s see the daily chart:
As far as I know, we have another Piercing Line pattern today, and the first one is still valid. The only thing that is missing here is an increase of its volume. This would be perfect.
And again, the pink line is still the most important point for NIO, as it looks like a Pivot Point in the daily chart. If triggered, then NIO could easily seek its ATH, or even defeat it.
The 21 ema is flat, and this means that the market is still uncertain about the trend. We’ll have to follow NIO closely to understand if it’ll actually break its resistances and resume the trend. So, remember to follow me to keep in touch with my daily analyses! And please, support this idea if you liked it!
Thank you very much.
Well, in my last analysis I was looking at a Harami pattern, that could help NIO resume the bull trend, but the pattern was frustrated, and I think it is easier to quote myself here: “But if NIO loses the Harami’s low, meaning, the $ 44.70, there is no other support before the red line to hold the price.”. The link to my last analysis is below, as usual.
Now that NIO hit the target at the red line, is starting to react, which is good, but it has some resistances to defeat in order to resume the bull trend. The 21 ema is still pointing down, and the purple trendline looks powerful too. If NIO defeats both points, then only the pink line will remain.
Let’s see the daily chart:
As far as I know, we have another Piercing Line pattern today, and the first one is still valid. The only thing that is missing here is an increase of its volume. This would be perfect.
And again, the pink line is still the most important point for NIO, as it looks like a Pivot Point in the daily chart. If triggered, then NIO could easily seek its ATH, or even defeat it.
The 21 ema is flat, and this means that the market is still uncertain about the trend. We’ll have to follow NIO closely to understand if it’ll actually break its resistances and resume the trend. So, remember to follow me to keep in touch with my daily analyses! And please, support this idea if you liked it!
Thank you very much.
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