Don't have much experience with either harmonic patterns or with using the Fib retracement tool. But through experimenting with them I might've uncovered a bullish pattern. A "Bullish Gartley" or the "222" Pattern.
On top of that the RSI is indicating oversold.
Price is also hugging the bottom Bollinger Band.
In the spirit of putting my money where my mouth...
Nio seems to be at a cross road for the short/medium term.
It will either:
- rebound, according to the fib
or:
-continue its downward trend, the area which the purple box highlights will be key as it seems to be a gap which NIO traders need to fill. If it does not find support at aroudn that price it will likely continue downwards towards its POC.
It will be an...
Price is healthily above the 200 Day EMA line
Apple is nearing oversold on the RSI.
The candles are touching the bottom Bollinger Band line, indicating a reversal is imminent.
If it sells off a bit more, than the opportunity only gets juicier.
Fingers crossed it tests all time highs soon. I'm in for a swing.
Disney has been trending up for a while now. In order to maintain that trend we need it to hold support at 183.5 - 184. If it can do that my target is around 200 in the next month or two.
- candles are above the 200 day EMA line
- candles also really close to the bottom Bollinger band.
Key level is 184.
