Hello traders and investors! Let’s see how NIO is doing today!
First, NIO filled all the gaps we talked about last week, and it hit our target in the 1h chart, and it is trading above it right now. This movement was expected, but now NIO is close to our target in the daily chart, so, we must be careful. The link to our previous study is below this post.
The volume is good, and we have another gap today. The question is, what kind of gap is this? If it is a common gap, it’ll be filled this week, and NIO will resume the trend. If it is an exhaustion gap, it’ll be quickly filled and it’ll do a bearish reaction in the 1h chart, leading to a pullback in the daily chart.
Speaking of daily chart:
NIO is very close to our target today, the $ 43.13. This is the target for this V-Shape recovery, and again, the volume looks good.
Now, NIO is going up a lot (almost 10% today), and since we are near a resistance, this could be an exhaustion bar. This possibility is not confirmed, and I’m not sure if it will be, but if NIO drops, the 21 ema will be there to hold the price. If NIO does a good reaction around this support, it could be an opportunity to buy.
This week will be decisive for NIO! If you want to keep in touch with my daily updates, remember to follow me, and support this idea if it helped you!