Hello traders and investors! Let’s see how NIO is doing today!
In the 1h chart, we see an accumulation. The support is at $ 36.68, which NIO retested twice, and the resistance is the $ 39.62, retested 3x. The 21 ema is flat, and it is always useless during sideways movements.
We have an open gap at $ 40.83, which probably will be filled, but NIO must escape from this congestion first. It is interesting to note that NIO has no other meaningful resistance besides the $ 46.36, and if we see an upwards breakout from this congestion, this is going to be our target.
In the daily chart, the situation looks interesting. It seems the $ 39.62 is a pivot point, and this could work as a nice reversal for the mid-term on NIO. We already did a higher low, if we trigger this pivot point, and do a higher high, it’ll be perfect.
Probably we’ll defeat the 21 ema, and the next target is the $ 46.36, as we said, as this was the previous top level.
However, it is a little too soon to assume anything, so, let’s wait for more confirmation. NIO looks promising, but it must trigger its signs first.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good day!
In the 1h chart, we see an accumulation. The support is at $ 36.68, which NIO retested twice, and the resistance is the $ 39.62, retested 3x. The 21 ema is flat, and it is always useless during sideways movements.
We have an open gap at $ 40.83, which probably will be filled, but NIO must escape from this congestion first. It is interesting to note that NIO has no other meaningful resistance besides the $ 46.36, and if we see an upwards breakout from this congestion, this is going to be our target.
In the daily chart, the situation looks interesting. It seems the $ 39.62 is a pivot point, and this could work as a nice reversal for the mid-term on NIO. We already did a higher low, if we trigger this pivot point, and do a higher high, it’ll be perfect.
Probably we’ll defeat the 21 ema, and the next target is the $ 46.36, as we said, as this was the previous top level.
However, it is a little too soon to assume anything, so, let’s wait for more confirmation. NIO looks promising, but it must trigger its signs first.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good day!
🔴 Only 5% of traders manage to be profitable in the long term.
👉 Join the 5% Project: thefinancehydra.com/the5project/
👉 Join the 5% Project: thefinancehydra.com/the5project/
