$NIO - VERY BEARISH - Overbought Weekly, Downward Channel intact Short

NIO Inc.NYSE

Description

⋅ Nov 26, 2021 3:58 AM

Great short opportunity as the weekly chart shows that last week, it has rejected again its top of the channel while in Scholastic RSI overbought territory. Heading lower.

Comments

darksome22

⋅ Nov 26, 2021 11:23 AM

ure ignoring all the support levels the way u drew it seems as if NIO is going to 10-12 range thats just not going to happen

TheTradingStar

⋅ Apr 16, 2024 12:36 AM

@darksome22, well, looks like everything has played out. It just takes time for the chart to play out, even if it doesn't play out over night

TheTradingStar

⋅ Nov 26, 2021 6:38 PM

I rarely look at weekly, but this caught my attention. Weekly has more time to run