Hello traders and investors! Let’s talk about NIO today!
NIO is starting 2021 with the right foot here. I rarely give any entry point here on Tradingview, but in my last NIO analyses I made an exception, for educational purposes only. I gave you guys an entry point at $ 45.46, and for more information just check my previous analyses, the links are below, as usual.
Now, the exit point is up to you. Keep in mind that NIO is in a bull trend, and pullbacks to the 21 ema are expected. But NIO did a Breakaway Gap today, defeating the resistance at $ 50.50 (purple line).
I would use the purple line as a guide from now on, as if NIO loses it, then it may fill the gap, but I wouldn’t count too much on that, as the daily chart is looking very good:
Yes, this Piercing Line pattern was one of the reasons why I was bullish on NIO, and it defeated the pink line, as we said it would. The volume is increasing again, which is great, and this indicates that NIO is just starting its movement.
In the mid-term, the pink line is a key point, as it is the most important support for NIO, but as long as it keeps trading above it, the next target is the ATH at $ 57.20.
Will NIO hit this point? Let’s see. Follow me to keep in touch with my daily analyses and remember to support this idea if it helped you! If you missed my previous analyses, again, check the links below.
Excellent job! Happy New Year to you! I was wondering what will happen on technical point of view during and after NIO DAY. I am looking forward on your analysis soon. Thank you so much!
Nathan_Black
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@liji59, Thank you liji! Happy new year to you too!