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
Note
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 $58.20Note
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
Note
Not the best confirmation following a squeeze candle that NIO has seen in the current uptrend, but in my opinion still a bullish result
Note
Trade active
Held $56 demand well
looking for break of red line to test above demand
Note
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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.