Yes, NIO did everything we talked about yesterday, and it reached the 43s as expected. The resistance around the 38.2% retracement and the 20ma did hold the price pretty well, and today NIO couldn’t deal with it.
We lost the red line, and it already hit its target at the previous bottom, around 43.89. Now the RSI is oversold, and NIO is starting to get interesting again.
The problem is that NIO has a RSI divergence, and an advanced breakdown too. We lost the 20ma and the red line. This means that if NIO doesn’t react as quickly as possible, we’ll just drop to the 42 area again.
For now, it is not a buy, but we must stay alert here, because we might see a buy soon. :)
I’ll keep you guys informed!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
We lost the red line, and it already hit its target at the previous bottom, around 43.89. Now the RSI is oversold, and NIO is starting to get interesting again.
The problem is that NIO has a RSI divergence, and an advanced breakdown too. We lost the 20ma and the red line. This means that if NIO doesn’t react as quickly as possible, we’ll just drop to the 42 area again.
For now, it is not a buy, but we must stay alert here, because we might see a buy soon. :)
I’ll keep you guys informed!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
