NIO - Flag
Nice flat formation on NIO. It's had a heck of run this year. The weekly chart is still strong, which leads me to believe that this continuation pattern will play out. The broader market looks ripe for a pullback in the near term, nothing significant, just enough to get the price of NIO down to the MA (50). Looking to open inside the flag ~$56. Target $72-75
Note
Note the divergence in RSI, volume, MACD. We'll want to see all of those correct before going long.Note
Nio is still sitting strong inside its bull flag. That's more than can be said about TSLA.
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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.