We are breaking the support at 45.24, meaning, we might see NIO at 43.89 next. We must see a very good and surprising reaction on NIO right now, to invalidate this thesis.
We are under the 20ma, but the Bollinger Bands are still tight, so, there’s still a chance we’ll see something incredible. We just can’t count too much on that.
The RSI has an advanced breakdown, and this is another point in favor of our thesis. The 43.89 will be a breakpoint for NIO, because it is the neckline of this head and shoulders pattern!
If NIO triggers this pattern, then the stock will have some problems. But if we see a good reaction around the 43.89, as crazy as this could sound to some people, we will see a buy sign. How will NIO behave from here? No one knows, but 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 are under the 20ma, but the Bollinger Bands are still tight, so, there’s still a chance we’ll see something incredible. We just can’t count too much on that.
The RSI has an advanced breakdown, and this is another point in favor of our thesis. The 43.89 will be a breakpoint for NIO, because it is the neckline of this head and shoulders pattern!
If NIO triggers this pattern, then the stock will have some problems. But if we see a good reaction around the 43.89, as crazy as this could sound to some people, we will see a buy sign. How will NIO behave from here? No one knows, but 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.
