mar_lpz

NIO could break the downtrend line upwards

Long
NYSE:NIO   NIO Inc
NIO has been in a decreasing trend since the beginning of the year, which has been confirmed with a couple of bounces. Nevertheless, chances are that the price of these shares break this trend line and starts increasing, having as a first objective attaining $49-50 per share.

The MACD indicator is right now pointing upwards, which means that the two lines that provide its signals could cross in the following trading sessions, providing a more clear buying signal to the market. Therefore, we will be waiting for a breakout signal.

On the other hand, whether the downtrend continues, a triangle figure could end up being created.
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