NIO: Key Points to keep an eye on!
Hello traders and investors! NIO is dropping today, let’s see what to do next.
As we discussed in my last analysis, NIO has a support at the green line ($ 45.28), and now, the 21 ema is there to hold the price as well. The link to my previous analysis is below, as usual. At this point, the price attracts buyers, who are willing to buy near a support level, as the risk/reward ratio is very good right now.
Any good bullish candlestick pattern would be amazing, like a Harami pattern. In normal circumstances Haramis have a near-random chance of reversal., but since it is near a support level, the chances of a bullish reversal increase a little bit more.
But NIO must not lose this support level, as this movement could make a top in the daily chart:
So far, what we have here is a Dark Cloud Cover candlestick pattern, and it doesn’t mean much, but it could be triggered if NIO trades under the green line next week, and if it loses today’s low too.
This isn’t a top sign yet, as the hourly chart is still bullish. All we can assume is that NIO just did a pullback in the hourly chart, and now it is ready to resume the trend again. But let’s keep our eyes on the supports mentioned, as if NIO loses them, it’ll seek the 21 ema in the daily chart.
The fact is the trend is still bullish, and we must keep our eyes open as it is going to report Earnings next week, and maybe the volatility will increase here. The volume is good, and there are a lot of expectations here, but the Technical Analysis can help us a lot here.
And if you like this analysis, please, support it! And follow me to keep in touch with my daily studies.
Have a great Friday 13.
As we discussed in my last analysis, NIO has a support at the green line ($ 45.28), and now, the 21 ema is there to hold the price as well. The link to my previous analysis is below, as usual. At this point, the price attracts buyers, who are willing to buy near a support level, as the risk/reward ratio is very good right now.
Any good bullish candlestick pattern would be amazing, like a Harami pattern. In normal circumstances Haramis have a near-random chance of reversal., but since it is near a support level, the chances of a bullish reversal increase a little bit more.
But NIO must not lose this support level, as this movement could make a top in the daily chart:
So far, what we have here is a Dark Cloud Cover candlestick pattern, and it doesn’t mean much, but it could be triggered if NIO trades under the green line next week, and if it loses today’s low too.
This isn’t a top sign yet, as the hourly chart is still bullish. All we can assume is that NIO just did a pullback in the hourly chart, and now it is ready to resume the trend again. But let’s keep our eyes on the supports mentioned, as if NIO loses them, it’ll seek the 21 ema in the daily chart.
The fact is the trend is still bullish, and we must keep our eyes open as it is going to report Earnings next week, and maybe the volatility will increase here. The volume is good, and there are a lot of expectations here, but the Technical Analysis can help us a lot here.
And if you like this analysis, please, support it! And follow me to keep in touch with my daily studies.
Have a great Friday 13.
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