Nice movements on NIO! Next stop: $ 38.40!
Ok, NIO destroyed the head and shoulders we talked about on Friday, and it triggered a buy sign for us! It broke the 34.75 as we said, and now it is flying.
However, NIO is overbought as the RSI reveals, and this means possible correction ahead. The 20ma is the target for this correction, and if NIO hits there, it could be another buy chance for the ones who are late.
The 4h chart looks ok. NIO broke the 20ma on Friday, and now it served its purpose as support, along with the 34.77.
We expect pullback in the 30min, but the bias looks pretty bullish in the 4h chart. The RSI is far from being overbought here. Now the 38.40 is the target.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
However, NIO is overbought as the RSI reveals, and this means possible correction ahead. The 20ma is the target for this correction, and if NIO hits there, it could be another buy chance for the ones who are late.
The 4h chart looks ok. NIO broke the 20ma on Friday, and now it served its purpose as support, along with the 34.77.
We expect pullback in the 30min, but the bias looks pretty bullish in the 4h chart. The RSI is far from being overbought here. Now the 38.40 is the target.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
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