ahmedabdelsalam1202

Inverted Hammer NIO Trade on D timeframe

Long
NYSE:NIO   NIO Inc
ENTRY: ~ 42
EXIT: ~ 55
STOP LOSS: 38
-We had an inverted hammer pattern in NIO and it was confirmed today as it didn't break the pattern yet.
- Looks like a good setup right now, as it is trading around the ~ 42 previous support level .
-We also have high volume which confirms the pattern + support level


Trade active: -Stochastics cross up
- RSI looking to exit the bearish zone
- The ticker is also trending up above the 200 day EMA (SUPPORT)