NIO
It hit our target at the 21 ema , as we discussed in my last analysis, and it almost hit the pink line as well.
Now, it is doing a quick pullback, as it should, since it just reached a resistance zone, but there are some points to keep in mind. The red and purple lines are relevant supports for NIO , and the pink line was a support in the past, and it is supposed to work as a resistance now. And about the green line at $ 48.60?
This green line is a pivot point. It is going to take some time for NIO to defeat today’s first candlestick , which was quite bearish , and just after it hit the 21 ema , but if it does, it’ll be a great sign. If NIO triggers this pivot point , I believe that the pink line won’t hold the price.
Sometimes, a pivot point in the hourly chart can be at the same time a Gift candlestick pattern in the daily chart as well:
Now, it is doing a quick pullback, as it should, since it just reached a resistance zone, but there are some points to keep in mind. The red and purple lines are relevant supports for NIO , and the pink line was a support in the past, and it is supposed to work as a resistance now. And about the green line at $ 48.60?
This green line is a pivot point. It is going to take some time for NIO to defeat today’s first candlestick , which was quite bearish , and just after it hit the 21 ema , but if it does, it’ll be a great sign. If NIO triggers this pivot point , I believe that the pink line won’t hold the price.
Sometimes, a pivot point in the hourly chart can be at the same time a Gift candlestick pattern in the daily chart as well:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.