I would like to point out two things:
1. NIO had an 80% run-up then had an expected pullback at the $55 resistance. What you can see from this fib I drew is that NIO bounced off the 0.6 fib level which proves that it was indeed a healthy pullback and nothing to be upset about.
2. And secondly, can we all appreciate how sexy and consistent that green trendline is? I think everyone should add it to their NIO charts.
All in all, NIO is looking great and looks like it's back on its way up. If it continues with this much momentum and breaks the $55 resistance, $65-$67 is the only thing in the way for new All Time High prices.
This is not financial advice this is just what I see happening. Let me know what you guys think!
1. NIO had an 80% run-up then had an expected pullback at the $55 resistance. What you can see from this fib I drew is that NIO bounced off the 0.6 fib level which proves that it was indeed a healthy pullback and nothing to be upset about.
2. And secondly, can we all appreciate how sexy and consistent that green trendline is? I think everyone should add it to their NIO charts.
All in all, NIO is looking great and looks like it's back on its way up. If it continues with this much momentum and breaks the $55 resistance, $65-$67 is the only thing in the way for new All Time High prices.
This is not financial advice this is just what I see happening. Let me know what you guys think!