Nio seems to be at a cross road for the short/medium term.
It will either:
- rebound, according to the fib
or:
-continue its downward trend, the area which the purple box highlights will be key as it seems to be a gap which NIO traders need to fill. If it does not find support at aroudn that price it will likely continue downwards towards its POC.
It will be an interesting week, but i'm leaning towards the bearish side for the short to medium term for NIO.
It will either:
- rebound, according to the fib
or:
-continue its downward trend, the area which the purple box highlights will be key as it seems to be a gap which NIO traders need to fill. If it does not find support at aroudn that price it will likely continue downwards towards its POC.
It will be an interesting week, but i'm leaning towards the bearish side for the short to medium term for NIO.