The chart is fairly self-explanatory. We have a huge amount of support at the ~7.00 level. The descending trendline may keep us from breaking out much past the $8 mark. And it could do a full round trip back to supply at $7.
EV has been crushed and this may be a good opportunity for a lower (NOT LOW RISK) trade with a safe stop.
EV has been crushed and this may be a good opportunity for a lower (NOT LOW RISK) trade with a safe stop.
Note
You can see we do have a very large gap in the chart (yellow dashed line) between $9.59 and $10.23), which could be a good upside target if we break out of this triangle to the upside.Note
ouch, china weakness smacked us, hard. See updated possible pattern and support. Notice we may be in a descending wedge that looks to terminate near a key support level of $5.40. See volume gap and then support. Also note support back to 2018-2020, at this level. Note
well this isn't great. Price recovered and then bounced off that trendline and is now resistance. See here: Note
NIO coming back up to that lower trendline/resistance in Premarket. If we fail here, again, i suspect we are going much lower. Everything China is up, today, based on stimulus talks, but that may not last. Note
There is a serious battle for that trendline! Keep an eye on it. Note
The trendline battle was lost to the downside. Here's my best guess at what will happen next. Note
Hello, looks like this is playing out, as expected. We're coming back at that line of resistance. It look like a good play for a move to the $7 mark, if we can take it and hold. Note
Hello, friends. Here's a bit of a micro-level update on NIO. we're in what I think is an up channel. If the white channel holds, it's back to test that descending trendline. You can see we could break out and test that $5.40 level, again. One thing to be aware of is there is some downside risk way down on the lower trend, if things take a turn for the worse. so keep an eye on these levels. Note
We've been at this trendline, before. It doesn't look good for a quick break, when I look at momentum. Perhaps a pullback and another attempt. However, we did finally get over that 6.20 level, and I would like to see that hold. 
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.
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.