Triple top forming on Nio after break out.
Rising price and reducing volume.
I will add to my position at $40-$45.
Rising price and reducing volume.
I will add to my position at $40-$45.
Note
The dip was into the $5 range expected.Thank you for the likes
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With drops across the market and other Chinese EV stocks not looking great in my opinion, I am waiting to see if this support level holds.
Price has dropped through 3 levels $54, $49 and $45
Once price hit my target area, it bounced to $52 before dropping to the $45 support level once more.
If there is no buy volume, I currently have buy orders between $35 and $38 and ideally want price to maintain above $42 and continue upward.
If we do I want to see price hold above $55 or I will look at selling the high.
Note
Reducing position on the highsIf trend line breaks position will be closed and will watch for support $25
with buys to catch a sell off sub $20
Keep eye on news that affects this market, materials shortage, production issues.
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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.