Yes, NIO is doing amazingly well, but nothing can go up forever. At one point, weāll find NIO around a support level again, and this is going to be just another chance for us to trade it again. We did a great trade last week, so, I'm fine waiting for the next one.
For now, we see that it lost the 20ma, and the volatility is decreasing, as the BB gets tighter. The RSI is still above the 50, indicating that NIO is still strong, and the trend is still bullish.
Given that NIO is pretty close to the top at 43.21, and the RSI is very overbought, and that we had a bearish candlestick today, Iāll just wait for the next trade to appear in front of us.
If NIO fills the gap at 38.89 itāll be perfect, but letās see. We are also pretty far from the 20ma, and at one point, weāll get closer to it. Letās see how NIO will move this week, but I think weāll trade it only next week ā this is not a promise though.
If you liked this trading idea, remember to click on the āFollowā button to get more trading ideas like this, and if you agree with me, click on the āAgreeā button š.
See you soon,
Melissa.
For now, we see that it lost the 20ma, and the volatility is decreasing, as the BB gets tighter. The RSI is still above the 50, indicating that NIO is still strong, and the trend is still bullish.
Given that NIO is pretty close to the top at 43.21, and the RSI is very overbought, and that we had a bearish candlestick today, Iāll just wait for the next trade to appear in front of us.
If NIO fills the gap at 38.89 itāll be perfect, but letās see. We are also pretty far from the 20ma, and at one point, weāll get closer to it. Letās see how NIO will move this week, but I think weāll trade it only next week ā this is not a promise though.
If you liked this trading idea, remember to click on the āFollowā button to get more trading ideas like this, and if you agree with me, click on the āAgreeā button š.
See you soon,
Melissa.
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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.