First, in the 1h chart, since we already defeated the resistance at $ 43.13, this point is supposed to work as a support. Notice that NIO just did an upwards breakout from a trap zone, when it was trading between the 21 and the resistance at $ 43.13.
All of these are good news, and NIO has no pullback/reversal sign around. Even if it drops again to the 21 in the 1h chart, the thesis would be intact.
Now, to the daily chart:
The only thing that annoys me is the low volume. If NIO loses today’s low, then it can easily retest the 21 in the again. Also, it must not close under the $ 43.13, as the market might see this as a false breakout. Of course, this wouldn’t be enough to change the trend, it would just mean we’ll see a pullback, and since the trend is , this means an opportunity to buy.
But for now, all we can say is that the $ 46.28 is the next target. Let’s keep our eyes open here, and stay alert to these key points.
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