Hello traders and investors! Let's see how NIO is doing today!
It did exactly what we expected in our previous analysis, last week, and it hit our target. I explained the technical reasons that made me believe we would seek the gap at $ 40.59 in my previous analysis; the link to it is below, as usual.
Now that we hit our target, NIO did what seems to be a Shooting Star candlestick pattern in the 1h chart, and this is a weakness sign. That’s ok, since we are in a bull trend, pullbacks are expected, and now is the best place for NIO to start a correction.
As long as we don’t see a bearish structure, NIO will probably be fine. Now, let’s see the daily chart:
In the daily chart, it feels like NIO deserves a pullback to the 21 ema again, and that would be just another opportunity to buy.
Since it triggered the pivot point at $ 39.63, it has been doing very well, but nothing goes up in a straight line forever. Let’s see if NIO will confirm a top near this gap area.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on indices and stocks.
Have a good day!
It did exactly what we expected in our previous analysis, last week, and it hit our target. I explained the technical reasons that made me believe we would seek the gap at $ 40.59 in my previous analysis; the link to it is below, as usual.
Now that we hit our target, NIO did what seems to be a Shooting Star candlestick pattern in the 1h chart, and this is a weakness sign. That’s ok, since we are in a bull trend, pullbacks are expected, and now is the best place for NIO to start a correction.
As long as we don’t see a bearish structure, NIO will probably be fine. Now, let’s see the daily chart:
In the daily chart, it feels like NIO deserves a pullback to the 21 ema again, and that would be just another opportunity to buy.
Since it triggered the pivot point at $ 39.63, it has been doing very well, but nothing goes up in a straight line forever. Let’s see if NIO will confirm a top near this gap area.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on indices and stocks.
Have a good day!
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
