Trendencies

NIO Golden Cross on the Daily!

Long
NYSE:NIO   NIO INC
I know a textbook "Golden Cross" is when the 50 MA crosses over the 200 MA. I personally use EMAs and I prefer to use the 55 EMA (yellow) and 200 EMA (black).

Regardless - We are about to have our FIRST Bullish EMA crossover / "Golden Cross" on the daily chart!

Also, It appears that we have completed a 5 wave structure up leading to this symmetrical triangle correction wave (continuation pattern) which has just recently broke out bullishly at the apex with increased volume .

Time will tell, lets see if this ages like fine wine.

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Thoughts, Comments, Questions, Concerns? Leave a comment below!
Trade active: Update: The Golden Cross has official happened as of today, the price is now up 30%.

Party time!
Comment: 1st target above $4.90 was well exceeded. Great profit taking level for now.

Comments

It’s a headfake. Elliott wave is better. WXY correction still in progressi
Reply
Trendencies justinl619
@justinl619, bro why you gotta flex on me like that :/

May be true! I will definitely take a look, but regardless - NIO is going to be making its way up in my opinion.
Reply
justinl619 Trendencies
@Trendencies, lol, for my idea to be wrong, it needs to test the neck line at $2.5 and bounce off. In the mean time, I am on the sideline until that happens. Good luck bro!
Reply
Trendencies justinl619
😉
Reply
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