Triple top forming on Nio after break out.
Rising price and reducing volume.
I will add to my position at $40-$45.
Rising price and reducing volume.
I will add to my position at $40-$45.
Comment:
With drops across the market and other Chinese EV stocks not looking great in my opinion, I am waiting to see if this support level holds.
Price has dropped through 3 levels $54, $49 and $45
Once price hit my target area, it bounced to $52 before dropping to the $45 support level once more.
If there is no buy volume, I currently have buy orders between $35 and $38 and ideally want price to maintain above $42 and continue upward.
If we do I want to see price hold above $55 or I will look at selling the high.
With drops across the market and other Chinese EV stocks not looking great in my opinion, I am waiting to see if this support level holds.
Price has dropped through 3 levels $54, $49 and $45
Once price hit my target area, it bounced to $52 before dropping to the $45 support level once more.
If there is no buy volume, I currently have buy orders between $35 and $38 and ideally want price to maintain above $42 and continue upward.
If we do I want to see price hold above $55 or I will look at selling the high.
Comment:
Reducing position on the highs
If trend line breaks position will be closed and will watch for support $25
with buys to catch a sell off sub $20
Keep eye on news that affects this market, materials shortage, production issues.
If trend line breaks position will be closed and will watch for support $25
with buys to catch a sell off sub $20
Keep eye on news that affects this market, materials shortage, production issues.
Comment:
Thank you for the likes