My second analysis after a month of learning about the trade. Again, an easy pick; The Hood's favorite: NIO .
- NIO remains overbought at the daily and weekly level.
- A rising wegde formed midday
- decreased as the formed
- indecisiveness during end of day
Using an and retracement lines my estimate would be a dollar drop by end of day. I put it exactly at a dollar for the sake of it.
They key would be the break of the 12.85 resistance point. We already saw a lot of pushing back around the 13 mark. Perhaps not a lot of strenght left there.
After that it maybe a drop below 10 as my previous post mentioned.
I have not taken into account the fundamentels as was mentioned last time. I bought at 13.50 to short so am biased. :)
Look forward to hearing your input!
Hear to learn.
Appreciate it big time.... Im not always right but when I am, It goes hard too.... lool
Can i ask what sources you read/follow to stay up to date?
Simple as 1,2 and 3..
I like to just watch volume and new highs... Those types of trade work for me.... I use plenty of different sites but at the end of the day, Trading View Volume and US all exchange is what I play with it if its a daily trade for myself... Swing trading is cool too but only when I go under cause usually a week to a month, im back up and I pull out after.