NIO: Bullish reaction at a support level!
Hello traders and investors! Let’s see how NIO is doing right now!
Well, the support level we discussed last week at the red line ($ 42.51) seems to be very strong, indeed! NIO retested it on Friday, and today we have a good reaction, which is a good sign. The first hour candlestick could be an Ignition Bar, and the green line at $ 46.30 is a new Pivot Point. The link to my last analysis is below, as usual.
The 21 ema is flat, and it seems the price is starting to defeat it. If NIO defeats the green line, it could easily retest the pink line at $ 48.65 again, and this is another key point we all should keep in mind. Let’s look at the daily chart now:
The pink line is a Pivot Point in the daily chart, and if triggered, NIO could seek the All Time High again, and possibly defeat it.
The Piercing Line pattern is still valid, and today’s candlestick pattern looks like a Bullish Engulfing. If NIO closes this way, we’ll have a very good sign today. Anyway, the purple line is the last support level for NIO, and it is the Piercing Line’s low.
So far, there is no reversal sign and we have the start of a good reaction. And if you liked this analysis, follow me to keep in touch with my daily updates! And please, support this idea if it helped you!
Thank you very much.
Well, the support level we discussed last week at the red line ($ 42.51) seems to be very strong, indeed! NIO retested it on Friday, and today we have a good reaction, which is a good sign. The first hour candlestick could be an Ignition Bar, and the green line at $ 46.30 is a new Pivot Point. The link to my last analysis is below, as usual.
The 21 ema is flat, and it seems the price is starting to defeat it. If NIO defeats the green line, it could easily retest the pink line at $ 48.65 again, and this is another key point we all should keep in mind. Let’s look at the daily chart now:
The pink line is a Pivot Point in the daily chart, and if triggered, NIO could seek the All Time High again, and possibly defeat it.
The Piercing Line pattern is still valid, and today’s candlestick pattern looks like a Bullish Engulfing. If NIO closes this way, we’ll have a very good sign today. Anyway, the purple line is the last support level for NIO, and it is the Piercing Line’s low.
So far, there is no reversal sign and we have the start of a good reaction. And if you liked this analysis, follow me to keep in touch with my daily updates! And please, support this idea if it helped you!
Thank you very much.
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