We lost the support at 44.59, at the bottom of the consolidation, and now NIO is very weak, doing nothing worthy.
Yes, the RSI is doing some weird movements, but this is not enough.
The 4h has almost a head and shoulders, but the 50% retracement is a good support, and NIO didn’t break it today. On the other hand, the RSI has an advanced breakdown, and if confirmed, NIO could just drop to the 39.75 next.
Yes, the RSI is oversold, but it could be a little bit more. In the end, it seems we have more bad news than good news. Usually I like to buy when this happens, but we must wait for more confirmation.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Yes, the RSI is doing some weird movements, but this is not enough.
The 4h has almost a head and shoulders, but the 50% retracement is a good support, and NIO didn’t break it today. On the other hand, the RSI has an advanced breakdown, and if confirmed, NIO could just drop to the 39.75 next.
Yes, the RSI is oversold, but it could be a little bit more. In the end, it seems we have more bad news than good news. Usually I like to buy when this happens, but we must wait for more confirmation.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
