NIO: Weekly Outlook (Multi Time Frame Analysis).
Hello traders and investors! Let’s see how NIO is doing this Friday!
NIO triggered the pivot point we discussed yesterday, in my last analysis (if you missed it the link is below, as usual), and now it is heading to the pink line, which is our target.
It seems that we’ll have a pullback first, and that’s ok, as pullbacks are healthy movements and usually offer some opportunities to buy. The 21 ema is pointing up and it’ll offer support if the price drops. The black line at $ 45.57 is also there to support the price.
Now let’s see the daily chart:
Nio is resuming the bull trend, the only thing that is bugging me is the low volume. The 21 ema is flat, so although it is trying to resume the bullish bias, the mid-term trend is still sideways.
The pink line is the most important point for NIO at the moment, as it is a pivot point in the daily chart. If NIO is serious in defeating this pivot point, we must see the volume increasing first.
The weekly chart is looking interesting, because NIO could drop a little bit more, and retest the 21 ema here. But this wouldn’t be a scary movement at all, and I believe this would only occur if we see NIO losing this week’s low ($ 39.51).
Let’s monitor NIO closely from now on, and I hope this idea helped you to see Nio’s movements clearer! If that’s the case, remember to follow me to keep in touch with my daily updates, and support this idea if it helped!
Thank you very much, have a great weekend!
NIO triggered the pivot point we discussed yesterday, in my last analysis (if you missed it the link is below, as usual), and now it is heading to the pink line, which is our target.
It seems that we’ll have a pullback first, and that’s ok, as pullbacks are healthy movements and usually offer some opportunities to buy. The 21 ema is pointing up and it’ll offer support if the price drops. The black line at $ 45.57 is also there to support the price.
Now let’s see the daily chart:
Nio is resuming the bull trend, the only thing that is bugging me is the low volume. The 21 ema is flat, so although it is trying to resume the bullish bias, the mid-term trend is still sideways.
The pink line is the most important point for NIO at the moment, as it is a pivot point in the daily chart. If NIO is serious in defeating this pivot point, we must see the volume increasing first.
The weekly chart is looking interesting, because NIO could drop a little bit more, and retest the 21 ema here. But this wouldn’t be a scary movement at all, and I believe this would only occur if we see NIO losing this week’s low ($ 39.51).
Let’s monitor NIO closely from now on, and I hope this idea helped you to see Nio’s movements clearer! If that’s the case, remember to follow me to keep in touch with my daily updates, and support this idea if it helped!
Thank you very much, have a great weekend!
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