NIO: The start of a new bullish movement?

٣٠ ديسمبر ٢٠٢٠

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.