NIO - GAPPED OUT OF ITS BACKSIDE!!!
Updated
I'll start by stating, I’m a fan of NIO, and I’m not looking to shit on it at all, this is all purely TA, I haven't factored in any fundamentals (please comment with any you're aware of - sharing is caring! :) ), this is purely an outlook for long term holders, but also with a scope for my fellow day traders who might want to note the more longer time frame levels so they can factor into their intraday TA.
Being brutally honest - I don’t feel there’s a positive outlook here! NIO has some rather interesting gaps formed at certain stages of past market action, and as such I myself am keeping an eye on the gaps.
Let me explain what’s going on with my chart;
ORANGE BOXES = GAPS formed on the daily (D) timeframe:
- 7 In total – Ranging from:
- The lowest at: $2.57/61 (0.04c gap)
- The highest at: $58 (0.60c gap)
BLUE BOXES = GAPS formed on the weekly (W) timeframe:
- 3 in total – Ranging from:
- The lowest at: $9.35/$10.51 ($1.16 gap)
- The highest at: $26.35/$27.22 (0.87c gap)
- Middle at: $19.42/.82 (0.40c gap)
- $2.43 total gap’s price.
RED TREND LINES – 2 in total –
Top trend line goes from highest wick ($66 / Jan ’21), down to Jan ’23. Price touched and retraced from this trend line at end of June 2021 (W/28.06) , and then once again in November 2021.
Bottom trend line intrigues me – its just below a daily gap that was formed during the 2020 pump, which was filled January 2022 (2 years to fill). The bottom red trend line sits just above this zone, and has also proven to be strong resistance – this was tested multiple times this year
MY PREDICTION IS AS THE WHITE LINE PROCEEDS MY FRIENDS!
The best of luck to all trading/investing, and lets all be nice to one another whilst sharing idea's!
Being brutally honest - I don’t feel there’s a positive outlook here! NIO has some rather interesting gaps formed at certain stages of past market action, and as such I myself am keeping an eye on the gaps.
Let me explain what’s going on with my chart;
ORANGE BOXES = GAPS formed on the daily (D) timeframe:
- 7 In total – Ranging from:
- The lowest at: $2.57/61 (0.04c gap)
- The highest at: $58 (0.60c gap)
BLUE BOXES = GAPS formed on the weekly (W) timeframe:
- 3 in total – Ranging from:
- The lowest at: $9.35/$10.51 ($1.16 gap)
- The highest at: $26.35/$27.22 (0.87c gap)
- Middle at: $19.42/.82 (0.40c gap)
- $2.43 total gap’s price.
RED TREND LINES – 2 in total –
Top trend line goes from highest wick ($66 / Jan ’21), down to Jan ’23. Price touched and retraced from this trend line at end of June 2021 (W/28.06) , and then once again in November 2021.
Bottom trend line intrigues me – its just below a daily gap that was formed during the 2020 pump, which was filled January 2022 (2 years to fill). The bottom red trend line sits just above this zone, and has also proven to be strong resistance – this was tested multiple times this year
MY PREDICTION IS AS THE WHITE LINE PROCEEDS MY FRIENDS!
The best of luck to all trading/investing, and lets all be nice to one another whilst sharing idea's!
Note
Looks like my TA came in alot earlier than anticipated!Lets see how NIO reacts over the last two months of the year?!
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