Best trade set up is when all time frames show the same price direction. So I compare the hourly, daily, weekly, and monthly chart in NIO to show this better.
On January 2nd I published a long analysis on NIO with target price of 35% gain in first 2 weeks of January, on January 11th I closed the trade when price was 65 and I published the first short analysis on NIO when price was 57 on January 30, 2021. And predicted target price of 38-40 , 3 weeks before it happened.
I invite NIO share holders to do their research about trend and volume of trading.
I believe NIO has entered bearish market (lost 50% market cap in 5 wks). It couldn’t be correction any more when we see only 3 green candle in the last 16 trading sessions..!
Volume of the trading also confirming the BEAR scenario!
let’s first define Down Volume:
Down volume is the circumstance where the price of a security falls accompanied by high or increasing trading volume.(obvious in NIO’s Hourly, Daily, and Weekly chart)
Down volume may indicate a shift in trend toward a correction or bear market.
To wrap it up : there could be a bounce back to 42-46 level but another down leg is inevitable!
Please check all my previous analysis on NIO
Moshkelgosha
On January 2nd I published a long analysis on NIO with target price of 35% gain in first 2 weeks of January, on January 11th I closed the trade when price was 65 and I published the first short analysis on NIO when price was 57 on January 30, 2021. And predicted target price of 38-40 , 3 weeks before it happened.
I invite NIO share holders to do their research about trend and volume of trading.
I believe NIO has entered bearish market (lost 50% market cap in 5 wks). It couldn’t be correction any more when we see only 3 green candle in the last 16 trading sessions..!
Volume of the trading also confirming the BEAR scenario!
let’s first define Down Volume:
Down volume is the circumstance where the price of a security falls accompanied by high or increasing trading volume.(obvious in NIO’s Hourly, Daily, and Weekly chart)
Down volume may indicate a shift in trend toward a correction or bear market.
To wrap it up : there could be a bounce back to 42-46 level but another down leg is inevitable!
Please check all my previous analysis on NIO
Moshkelgosha
