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Piercingline

SPX: Once again, did what was expected.Hello traders and investors! Let’s see how the S&P is doing this Friday. The signs are good, and the index is bullish for sure. Today it triggered the Piercing Line pattern we talked about yesterday, and it reinforces our bullish thesis. It wasn’t only a Piercing Line pattern, but a pattern that appeared just above our dual-support level made by the purple trendline and the gap area at $ 4,369 (red line). The index is looking good, and we have no pullback/reversal sign around. Let’s see the 1h chart: We triggered the pivot point at $ 4,418, and we are once again above the 21 ema. The index has an open gap at $ 4,471 and the odds are that we’ll fill this gap in the short-term. As long as we lack bullish structures in the 1h/D charts, nothing unusual will happen, and the trend will persist. If you’ve read this far, remember to follow me to keep in touch with my daily updates. Have a good weekend!
SP:SPX
by Nathan_The_Finance_Hydra
12
PLTR: Complete Multiple Time Frame Analysis after Earnings!Hello traders and investors! Today PLTR reported its earnings, and the volatility increased, as expected. There are some key points we can use, and we’ll talk about them in this complete Multi Time Frame Analysis (MTFA) . First, now it is too late to buy. The time to buy was during the Ignition Bar evidenced in the 1h chart, which was a classic bullish candlestick pattern, just above the support at the purple trendline. What’s more, PLTR just filled the first Breakaway Gap , which was my first target since the analysis I did on July 20, “PLTR: A very Technical Bullish Thesis”, which is public, and the link to it is below this post. If you buy now, it feels like you’ll buy from someone who bought at the Ignition Bar down there, and will use you to book profits. Always try to buy from who’s panicking, not with the herd. If I were out, I would wait for the Risk/Reward ratio to make sense again, probably after a correction, near a support level. This wouldn’t change the bullish bias seen on PLTR, as I still believe we’ll seek the next gap at $ 26.32. The daily chart reinforces the bullish thesis: The daily chart suggests that we can seek the $ 27.47. We just defeated the 38.2% Fibonacci’s Retracement , which worked as a resistance at least 2 times (Jul 12 and Aug 10). We also defeated the 21 ema, and the situation is clearly bullish. It would be good if it corrects again, but we can’t count on that. It is interesting to notice that PLTR has been doing many good and technical movements. The bottom seen last month was just a pullback to the 61.8% Fibonacci’s Retracement, and it did a perfect Piercing Line candlestick pattern on Jul 19. However, I have one more key point for you, and this time it is in the weekly chart: Although the $ 27.47 is the target in the daily chart, this is a bullish pivot point in the weekly chart . If triggered, PLTR has a good chance of retesting its All-Time High again. To sum up, if you aim for the short-term, you have an opportunity to book profits now, as we just hit the first target in the 1h chart. If you aim for the mid-term, the $ 27.47 is the target for you. In a longer-term perspective, if PLTR triggers the pivot point in the weekly chart, the $ 45 is where you should aim. In addition, if you still don’t follow me, I invite you to do so ! I write daily analysis here on Tradingview, and I’m sure you’ll find something interesting around. Take care, my friends!
NYSE:PLTR
by Nathan_The_Finance_Hydra
6
AMD: It did what it should've done! What's next?Hello traders and investors! Let’s talk about AMD again! As we expected, against all the pessimism, AMD was not a sell, as we thought. My last public analysis was 10 days ago, and the link to it is below this post. Yes, AMD did a bullish structure near its support level. We have a Piercing Line pattern, a very well-known reversal candlestick pattern, just above the support at $ 85.77. This worked as a support level, since it was previously a top level on June 18, and this movement corroborates with the Principle of Polarity. What’s more, this pattern came after a retest of the 21 ema in the weekly chart , something we also expected. This is a bullish reversal pattern that occurred above a dual-support level in different time-frames. This made AMD fly again, but we are not in a bull trend officially yet. The $ 94 area is an important resistance for AMD in the short/mid-term, and could hold the price for a while. Pullbacks to the 21 ema in the daily chart are also expected. This week we have Earnings , and this will surely bring some volatility for AMD. If it’ll crash to the $ 85 or defeat the $ 94 we don’t know yet, but we’ll have our answer soon. Let’s keep our eyes open here! If you liked this analysis, remember to follow me to keep in touch with my daily updates. Have a good week!
NASDAQ:AMD
by Nathan_The_Finance_Hydra
NIO: Many patterns for us!Hello traders and investors! Let’s see how NIO is doing today! We have many interesting signs around, and I’m sure it’ll be worth keeping an eye on the points mentioned here. First, in the 1h chart, we have a pivot point at $ 43.66. If NIO defeats this point, it has a good chance of reversing the bear trend for good. We have been on a series of lower highs/lows in the 1h chart, and this movement would bring something new for NIO. By defeating the pivot point, and trading above the 21 ema, NIO could reverse the trend in the mid-term too, meaning, in the daily chart: We have a Piercing Line pattern on NIO, just like on PLTR, but the difference is that the volume on NIO is looking better. We almost hit the 61.8% Fibonacci’s Retracement , and yesterday, we closed above the 50% retracement. This is a powerful sign. Today it seems we have a Gift pattern : A small candlestick that follows a powerful candlestick (in this case, the Piercing Line). Gifts are just corrections seen in smaller time frames, and often they create pivot points in the 1h chart. Now it seems NIO has everything to start its reversal, we just need to wait for more confirmation . We must not lose the 61.8% in the next few days, otherwise we might drop to lower levels. Meanwhile, let’s keep an eye on the points and patterns mentioned in this analysis. And if you liked this idea, remember to follow me to keep in touch with my daily studies, and please, support this idea if it helped you! Thank you very much!
NYSE:NIO
by Nathan_The_Finance_Hydra
5
PLTR: A very Technical Bullish Thesis.Hello traders and investors! Let’s see how PLTR is doing today! This is an analysis, but we’ll have a lot of educational content as well, because PLTR has many patterns to talk about. First, in the 1h chart, it seems we’ll reverse the short-term bear trend, as PLTR is doing a new high today, above the $ 21.70. This breaks the status quo , and it is something we haven't seen since the beginning of this bear trend, which started when PLTR triggered the Head and Shoulders chart pattern this month. This might be the start of something new. If it reverses, we might use the Breakaway Gaps to guide us next. Remember: Gaps work as magnets. They are breakaway gaps because they are losing their support levels (purple lines). Keep in mind that we have 4 types of gaps: Breakaway, runaway, common and exhaustion. There’s the idea of a Rounded Bottom pattern, as evidenced by the red line, and I find this pattern particularly hard to trade. It seems we can never tell if it is a true Round Bottom or not until we are already close to the target, which is the $ 23.39 , in this case. It is not perfect, but it has a Piercing Line pattern in the daily chart, as evidenced by the yellow square. A Piercing Line occurs when the price opens in a gap, below the previous day’s low, closes near its high, and covers at least halfway of the previous bearish candlestick’s body. What’s more, this pattern appeared just above the 61.8% Fibonacci’s Retracement. All of this creates an interesting and technical bullish thesis for PLTR for the next few days. What makes the situation more risky: The low volume in the daily chart, and the lack of bullish structure in the 1h chart (higher highs/lows). This makes me wonder if it’s too soon for PLTR, but the Risk/Reward ratio is good at this level. Either way, always use a good risk-management that suits your needs. Remember to follow me to keep in touch with my daily updates, and support this idea if you liked it! Thank you very much!
NYSE:PLTR
by Nathan_The_Finance_Hydra
6
TSLA: These patterns could trigger a Reversal!Hello traders and investors! Let’s see how Tesla is doing today! First, in the 1h chart, we see something that could look like a Round Bottom , which is a pattern that I don’t like to trade. It seems we never know we are doing a Round Bottom for sure, until the pattern is almost done. Either way, the $ 645 was the Key Point , as we discussed in our last study (link below). Now that Tesla is trading above it, we may see a pullback to this level again, which is quite close to the 21 ema as well. This movement would be natural and wouldn’t ruin the bullish bias seen here in the 1h chart. Now, let’s see the daily chart: Ok, Tesla didn’t trigger the Piercing Line pattern we discussed last week. But today it triggered yesterday’s Bullish Engulfing , which is a good buy sign. The volume seems to be increasing again, but there’s one problem. The 21 ema is here to offer a resistance. But if everything moves according to this Multi Time Frame Analysis ( MTFA ), the 21 ema in the daily chart could be the perfect excuse to TSLA drop to the support level we mentioned above, in the 1h chart. This could create a complete bullish structure and make TSLA reverse the bearish bias. Let’s see how TSLA will behave now, and if you like this analysis, remember to follow me to keep in touch with daily studies! And remember to support this idea with your like before you leave! Thank you very much!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5
TSLA: We hit another target! What's next for Tesla?Hello traders and investors! Let’s talk about Tesla today! It’s been a while, but here we are! First, Tesla did what it had to do. As we discussed in my last analysis (almost 2 weeks ago), Tesla did a downwards breakout from its Trap Zone, and it precisely hit our target at $ 620 . This was a very technical movement. If you missed my previous public analysis, the link to it is below, as usual. In the 1h chart, Tesla found a support around the $ 620, and what’s more curious, it is doing a bullish structure. The pink line around the $ 644 is a pivot point , and if triggered, the chances are that it’ll reverse the short-term bear trend seen in the hourly chart. If it reverses, we could see a rally in the daily chart as well, which we’ll analyze next: Today’s volume was decent, which is good, and it seems we had a Piercing Line candlestick pattern in the daily chart. It wasn’t a perfect piercing line, I agree, but it really looks like one, and given the signs in the 1h chart, it seems it’ll be triggered soon, if not tomorrow, in the next few days. Tesla is trapped inside a mid-term congestion , and any bullish rally will find a first resistance around the pink line at $ 718. The 21 ema is not a reliable resistance/support level when we are in the middle of a congestion, so, we’ll ignore it for now. This is a good sign for Tesla, and if you liked this analysis, remember to follow me to keep updated about my daily studies, and remember to support this idea with your like if you’ve read this far! Thank you very much!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
19
BTC -H4 - THREE BLACK CANDLES AND... A PIERCING LINE...H4 : The recent selloff (55046-44845)triggered three long black candles) followed by a long white candle which is showing a piercing line pattern. The 38.2% Fib ret has already been filled @ 48729 which coincides roughly with the bottom of the clouds resistance zone. Higher next level to watch is the 50 % Fib ret @ 49935 (roughly the middle of the clouds) ahead of 51141 (61.8% Fib ret and top of the clouds resistance zone) Important to note that even if BTC recover towards 51141, this level would still be, below the current downtrend line resistance. So far, such kind of recovery should still be seen as a corrective move in an ongoing bear trend price action. In order, to neutralise the still existing downside risk, BTC should recover at least above 51600 (upside breakout of the clouds and also above Kijun-Sen)
BITSTAMP:BTCUSD
by Ironman8848
NIO: New record high! How to proceed?Hello traders and investors! Let’s see how NIO is doing today! First, NIO did hit our target at the All Time High (ATH) and it even defeated it, which is incredible. The ATH was our target since Dec 29 I believe, and I’ll leave the link to this analysis below. But how to proceed now? Well, there’s not much else to do, but hold. If you booked profits on Friday when it hit our target, I won’t judge you, but as long as we don’t see any reversal or weakness signs around, the trend will persist. As far as I know, NIO is doing what is called Time Correction , meaning, the price is accumulating and moving sideways until the 21 ema catches up with it. Since it is a bull trend, we are fine, but every accumulation in the hourly chart may indicate a Spinning Top/Bottom or Doji in the daily chart: Assuming that NIO will do a Spinning Top or a Doji in the daily chart, if it loses today’s low next, then we may see NIO drop again to a previous support level, maybe to the $ 57.20, or even to the 21 ema in the worst-case scenario. But this would be just a pullback, and pullbacks in a bull trend are just opportunities. I don’t think it is a good idea to buy now, as the R/R ratio is not good. A good R/R ratio was on Dec 29, when NIO triggered the Piercing Line pattern. Now it is time to manage positions. Let’s watch NIO closely form now on and try to react properly when the next opportunity come. Remember to follow me to keep in touch with my daily updates and support this idea if you liked it! Thank you very much! Have a great Monday!
NYSE:NIO
by Nathan_The_Finance_Hydra
41
SPX: New All Time High! So, what now?Hello traders and investors! Let’s see how the SPX is doing today! We have a new record high today, which is incredible. This bullish momentum was triggered when the index did this classic Piercing Line pattern near a support level (purple line), which we discussed about my last analysis (Jan 4, link below as usual). Yesterday’s drop was quite unusual, but in the end, was just a pullback to the 21 ema, rather than an actual sell-off. Now the key point is the 3783 , as if the index loses it, we may see a sharper pullback, but still, wouldn’t be anything too drastic, as the trend is incredibly strong here. Now, the daily chart: The volume is increasing, which is another good sign, and we are quite far from the 21 ema. Again, if the index loses the 3783 a pullback to the 21 ema/green line at 3726 would be natural. So far, there are no pullback or reversal signs yet, and if SPX keeps above its supports, the bull trend will persist, until a clear reversal occurs, like Charles Dow would say ( Dow Theory 6th tenet ). If you liked this analysis, remember to follow me to keep in touch with my daily studies. And support this idea if it helped you! Thank you very much.
SP:SPX
by Nathan_The_Finance_Hydra
3
NIO: Bullish candlesticks + good volume!Hello traders and investors! Let’s see how NIO is doing today! Nio found a support at the purple line around the $ 50.50 and now it is just resuming the bull trend, as usual. Yesterday’s movement was quite crazy, but since it was due to news, there was no reason to panic, as we discussed in my previous analysis (if you missed, just check the link below). Now the next resistance is at the $ 55.27, and if NIO defeats this point, it’ll trigger a pivot point that could lead to the ATH, or possibly above it. Let’s see the daily chart: The pink line is a support for the mid-term, and the 21 ema too. The volume was so low during December, and now it is finally starting to increase, and this tell me that it is the beginning of a new bull trend. As we've been discussing in my past analyses, our target is the ATH at $ 57.20, but it seems NIO will defeat this point. The bull trend was triggered when NIO did this Piercing Line pattern, and so far, NIO is doing great. And if you liked this analysis, remember to follow me to keep updated. I do daily analyses and I’m sure you’ll find something good around here. And support this idea if it helped you! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
12
AAPL: Reacting near a support level! Some Key Points for Apple!Hello traders and investors! Let’s see how Apple is doing today! First, Apple hit our target at the ATH ($ 137.98) which I set in my last analysis, on Dec. 16 (the link to this analysis is below, as usual), and now it is doing a pullback, which is perfectly natural. In the hourly chart, the situation is not good, as AAPL is still under the 21 ema, and doing lower lows/lower highs. We may even have a H&S chart pattern here. It seems there’s no hope for AAPL, but let’s see what the daily chart can tell us. It is retesting the 21 ema in the daily chart, and it is doing what could be a Piercing Line pattern. If triggered tomorrow, this reaction could be the beginning of a new bullish movement. What’s more, we have a trendline guiding the bottoms since Nov. 24, and only if AAPL loses it we’ll see the bull trend losing strength. But as long as Apple keeps above it, we are just fine. Remember to follow me to keep in touch with my daily analyses, and please, support this idea if it helped you! Thank you very much.
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
2
SPX: A bearish sign ahead? Here some Key Points to watch!Hello traders and investors! Let’s see how the SPX is doing today! First, it lost the 3726, which was a Key Point for the index in the short-term, and it melted. Now the SPX is trying to react near a support level (purple line at 3675). We have a good Piercing Line pattern, which makes me believe it’ll retest the 21 ema soon, but if it loses the purple line again, the next stop will be the 3646 again. Let’s see how the daily chart is doing: Today’s candlestick is quite bearish, but the 21 ema is here holding the price. The volume doesn’t tell much, but if SPX closes this way with a high volume, then the mid-term bull trend will start to get in danger. I see the 3646 as the most important support for the mid-term , and as long the index keeps above this level, there’s nothing else to do. Let’s see if the reaction in the hourly chart will be enough to hold the price from a sharper drop. Remember to follow me to keep updated about the SPX and other stocks I analyze. And please, support this idea if it helped you. Thank you very much, let’s have a great 2021!
SP:SPX
by Nathan_The_Finance_Hydra
4
NIO: Next target and Key Points!Hello traders and investors! Let’s talk about NIO today! NIO is starting 2021 with the right foot here. I rarely give any entry point here on Tradingview, but in my last NIO analyses I made an exception, for educational purposes only . I gave you guys an entry point at $ 45.46, and for more information just check my previous analyses, the links are below, as usual. Now, the exit point is up to you. Keep in mind that NIO is in a bull trend, and pullbacks to the 21 ema are expected. But NIO did a Breakaway Gap today, defeating the resistance at $ 50.50 (purple line). I would use the purple line as a guide from now on , as if NIO loses it, then it may fill the gap, but I wouldn’t count too much on that, as the daily chart is looking very good: Yes, this Piercing Line pattern was one of the reasons why I was bullish on NIO, and it defeated the pink line, as we said it would. The volume is increasing again, which is great, and this indicates that NIO is just starting its movement. In the mid-term, the pink line is a key point, as it is the most important support for NIO, but as long as it keeps trading above it, the next target is the ATH at $ 57.20. Will NIO hit this point? Let’s see. Follow me to keep in touch with my daily analyses and remember to support this idea if it helped you! If you missed my previous analyses, again, check the links below. Thank you very much, and let’s have a great 2021!
NYSE:NIO
by Nathan_The_Finance_Hydra
22
NIO: The start of a new bullish movement?Hello traders and investors! Let’s see how NIO is doing today! Ok, NIO defeated the black line at $ 45.46 we discussed yesterday, and now it seems it is reversing the short-term bearish trend . The 21 ema is pointing up again, and the volume is increasing a little. According to the Principle of Polarity in Technical Analysis, the black line will work as a support from now on, and this is very good news to the bulls. Let’s see what the daily chart tells us: We have another Piercing Line candlestick pattern, and the volume is starting to increase again. Today, this pattern was triggered, and this can make NIO defeat the pink line at $ 48.65 for good and lead the stock to new levels. And if this analysis helped you, remember to support it , and follow me to keep in touch with my daily updates. Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
4
NIO: Bullish reaction above a Key Point!Hello traders and investors! Let’s how NIO is doing this Monday! Nio is starting to react in the hourly chart, which is fantastic, because it didn’t even hit the purple line at $ 38.33, which is the most important support for NIO, as we discussed on Friday. If you missed my last analysis, the link to it is below, as usual. Also, this bullish reaction came with good volume , another good sign, and it seems NIO will retest its resistances, which are 3, so the fight won’t be easy for the bulls. We have the 21 ema, which is pointing down, the red line, and the strongest resistance: The purple trendline , which made the price drop several times in the past. Let’s see if we have any good sign in the daily chart: Yes, NIO is doing a good candlestick pattern today, and the Piercing Line pattern is still valid. If it keeps this way, and if the volume is good, then we’ll have an impressive sign of strength here. Again, the purple line is the most important support for NIO because if it loses it, we may see a sharper pullback , but if it keeps trading above it, the momentum will continue bullish. And as far as I know, the closer the price gets to a support level, the better is the R/R ratio of a long trade (if the mid/long term is bullish, of course). We’ll have to monitor NIO closely, as it is near a decisive point, and since I analyze NIO every day, I invite you to follow me to keep updated about what’s going on here, and please, support this idea if you liked it! Have a good Monday!
NYSE:NIO
by Nathan_The_Finance_Hydra
11
NIO: How far could NIO drop?Hello traders and investors! Nio is dropping today, which makes sense, as we have a Red Friday today, and most indices are dropping around the world. Let’s start our usual Multi Time Frame Analysis . First, NIO is losing the support level at the red line , frustrating the bullish reaction seen yesterday. The purple trendline is a strong resistance, and NIO failed in defeating it. Now there is no other support, but the purple line around $ 38 to hold the price. The purple line is an important support, and it makes more sense if we analyze the daily chart: The purple line is a support since Nov. 10 and was the Piercing Line’s low as well. It seems NIO is going to retest it, but this movement doesn’t seem to be a real sell-off, as the volume is still too low. While the pink line is the most important Pivot Point , the purple line is the most important support level for the short/mid-term . If NIO loses this purple line, it could trigger a bearish pattern seen in the weekly chart. This pattern could be a Bearish Engulfing , and it could make NIO drop again to the 21 ema, around $ 30 again. I wouldn’t be surprised, but I find this scenario too optimistic, as this would be a great opportunity to buy NIO at a cheaper price. Let’s be careful here and watch NIO’s support levels closely. Therefore, remember to follow me to keep in touch with my daily updates on NIO, and please, support this idea if you liked it! Thank you very much. Have a great weekend!
Editors' picks
NYSE:NIO
by Nathan_The_Finance_Hydra
35
NIO: A bullish reaction in a support zone (again)!Hello traders and investors! Let’s see how NIO is doing today! Well, in my last analysis I was looking at a Harami pattern, that could help NIO resume the bull trend, but the pattern was frustrated, and I think it is easier to quote myself here: “ But if NIO loses the Harami’s low, meaning, the $ 44.70, there is no other support before the red line to hold the price. ”. The link to my last analysis is below, as usual. Now that NIO hit the target at the red line, is starting to react, which is good, but it has some resistances to defeat in order to resume the bull trend. The 21 ema is still pointing down, and the purple trendline looks powerful too. If NIO defeats both points, then only the pink line will remain. Let’s see the daily chart: As far as I know, we have another Piercing Line pattern today, and the first one is still valid. The only thing that is missing here is an increase of its volume. This would be perfect. And again, the pink line is still the most important point for NIO, as it looks like a Pivot Point in the daily chart. If triggered, then NIO could easily seek its ATH, or even defeat it. The 21 ema is flat, and this means that the market is still uncertain about the trend. We’ll have to follow NIO closely to understand if it’ll actually break its resistances and resume the trend. So, remember to follow me to keep in touch with my daily analyses! And please, support this idea if you liked it! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
16
NIO: The most important Key Point for the short/mid-term!Hello traders and investors! Let’s see how NIO is doing today! First, it failed in defeating the Dual-Resistance zone we discussed in my last analysis, and it seems it felt the purple trendline again today, and it lost the green line, frustrating this Pivot Point , which was triggered yesterday. Now NIO did a Harami candlestick pattern , and if triggered, could be a ray of hope for NIO, at least in the short-term. But if NIO loses the Harami’s low, meaning, the $ 44.70, there is no other support before the red line to hold the price. The daily chart is looking interesting, so, let’s look at it now: The Piercing Line pattern is still valid, and one thing that catches my attention is the low volume since NIO did this pattern. The volume is low, and it looks like the stock doesn’t have strength, which is normal, as it went up so fast in the last months. This is not an indicator of a real sell-off, just a sign of weakness, and usually, this means opportunity. It could even drop to the purple line at $ 38 again, and the trend would still be extremely bullish. The key point here is the pink line , and NIO must defeat this point in order to resume the bull trend, and the volume must increase as well. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you! Thank you very much!
NYSE:NIO
by Nathan_The_Finance_Hydra
19
NIO: Bullish reaction at a support level!Hello traders and investors! Let’s see how NIO is doing right now! Well, the support level we discussed last week at the red line ($ 42.51) seems to be very strong, indeed! NIO retested it on Friday, and today we have a good reaction, which is a good sign. The first hour candlestick could be an Ignition Bar, and the green line at $ 46.30 is a new Pivot Point . The link to my last analysis is below, as usual. The 21 ema is flat, and it seems the price is starting to defeat it. If NIO defeats the green line, it could easily retest the pink line at $ 48.65 again, and this is another key point we all should keep in mind. Let’s look at the daily chart now: The pink line is a Pivot Point in the daily chart, and if triggered, NIO could seek the All Time High again, and possibly defeat it. The Piercing Line pattern is still valid, and today’s candlestick pattern looks like a Bullish Engulfing . If NIO closes this way, we’ll have a very good sign today. Anyway, the purple line is the last support level for NIO, and it is the Piercing Line’s low. So far, there is no reversal sign and we have the start of a good reaction. And if you liked this analysis, follow me to keep in touch with my daily updates! And please, support this idea if it helped you! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
5
NIO: Should we PANIC or not?Hello traders and investors! A little late, but here we are for another NIO analysis! Today is Friday, so let’s do a complete study here. First, the hourly chart is quite bearish, as the resistance around the 21 ema didn’t allow the price to trigger the Pivot Point at the green line, which we discussed yesterday. If you missed the link to my previous analysis, the link is below as usual. Now, NIO did nothing but retested its support level at the red line around the $ 42 again. The stock is reacting, but let’s keep in mind that we are inside a Trap Zone now. The price is trapped between its support at the red line and resistance at the 21 ema (which is getting closer). At some point, NIO will have to explode in some direction, the question is, would it be up or down? Let’s see the daily chart: The Piercing Line pattern is still valid, but the Gift pattern isn’t. The support at the purple line would probably hold the price if it drops, and I still see no reversal signs at NIO so far. The last 2 bearish candlesticks have low volume , so there isn’t a real sell-off or people panicking here. It seems the stock is just a little bit tired, and it needs to rest before it resumes the bull trend. Now, the weekly chart: I believe that in the worst-case scenario, NIO would retest the 21 ema in the weekly chart , meaning it would drop to the $ 30 region again. And this would be an opportunity to buy/buy more/buy back some stocks. Remember: In bull trends, pullbacks are opportunities, with enhanced Risk/Reward ratio . Always buy near supports after pullbacks. But again, this would be the worst-case scenario (or the best-case scenario, for those who are willing to buy NIO at a cheaper price). I see no reason to worry or to panic, as there are no reversal signs and the stock is performing very well, with several supports around. And remember to follow me to keep in touch with my daily analyses! And please, support this idea if you liked it! Thank you very much, have a great weekend.
NYSE:NIO
by Nathan_The_Finance_Hydra
18