NIO: Trading at a decisive point! Time to panic-sell?
Hello traders and investors! So, NIO is doing a pullback right now. No big surprises here. Let’s see what’s going on.
In the hourly chart, NIO is doing a pullback to the 21 ema and to the Blue Line at $ 60.08, which is a Key Point for NIO, as we discussed in my last analysis. Also, as we expected, the $ 57.20 did a great job holding the price last week, and our target is still the same: $ 66.95. If you missed my last analysis, I’ll leave the link to it below, as usual.
Since NIO is above an important support level, I see no reason to panic. The $ 60.08 was previously a resistance, and now it is working as a support, following the Principle of Polarity Let’s see the daily chart:
The trend is clearly bullish, and as long as we don’t see a clear reversal sign, NIO will continue climbing. The movement is quite bearish today, but aside from the support levels seen in the hourly chart, NIO is still trading above the 21 ema in the daily chart and above the $ 57.20 (November ATH).
We must see how NIO will close today, and the volume will look like, before jumping to any conclusion. But so far, it seems the bias is still bullish. I’ll keep the target at $ 66.95, as we have been discussing, and again, if you missed my previous analysis, the link is below. It is never a good idea to panic-sell, so let's wait for any confirmation.
And if you liked this analysis, remember to follow me to keep in touch with my studies, and to support this idea!
Thank you very much for your support!
In the hourly chart, NIO is doing a pullback to the 21 ema and to the Blue Line at $ 60.08, which is a Key Point for NIO, as we discussed in my last analysis. Also, as we expected, the $ 57.20 did a great job holding the price last week, and our target is still the same: $ 66.95. If you missed my last analysis, I’ll leave the link to it below, as usual.
Since NIO is above an important support level, I see no reason to panic. The $ 60.08 was previously a resistance, and now it is working as a support, following the Principle of Polarity Let’s see the daily chart:
The trend is clearly bullish, and as long as we don’t see a clear reversal sign, NIO will continue climbing. The movement is quite bearish today, but aside from the support levels seen in the hourly chart, NIO is still trading above the 21 ema in the daily chart and above the $ 57.20 (November ATH).
We must see how NIO will close today, and the volume will look like, before jumping to any conclusion. But so far, it seems the bias is still bullish. I’ll keep the target at $ 66.95, as we have been discussing, and again, if you missed my previous analysis, the link is below. It is never a good idea to panic-sell, so let's wait for any confirmation.
And if you liked this analysis, remember to follow me to keep in touch with my studies, and to support this idea!
Thank you very much for your support!
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