NIO potential breakout with multiple confirmations
Updated
NIO is currently in a volatility squeeze and has broken the significant level within the trend pattern that has led to a large break out multiple times (Within the current trend)
One precaution to consider is that the uptrend is getting a little long in the tooth when looking at it from a Fib Time Zone extension perspective
One precaution to consider is that the uptrend is getting a little long in the tooth when looking at it from a Fib Time Zone extension perspective
Comment
Very similar breakout pullback from high following the handle break on OCT 29-30, 2020Trade active
Position open 2/10/2021Shares at Average $61.30
19 March 21 - $65 Call
Trade active
Current Stop at $58.20Comment
Following projected price pattern indicated by the green line directly above the daily candle.Price action indicates that the is clear accumulation around the $60 mark.
Filled the demand jump in volume from Feb. 9th from $59.70 - $60.50. (anticipated)
A break below the intraday low from Feb. 9 ($58.24) would cause some concern in short-term upside
Comment
Not the best confirmation following a squeeze candle that NIO has seen in the current uptrend, but in my opinion still a bullish result
Comment
Trade active
Held $56 demand well
looking for break of red line to test above demand
Comment
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