Hello traders ands investors! NIO hit our target and it filled our gap at $ 40.83. The link to my previous idea is below this post, as always. Now, what’s next for us?
First, in the 1h chart, we see a clear bull trend. NIO is doing higher highs/lows, and the 21 ema is pointing up. Today we are above the resistance at the gap, indicating that it’ll seek other resistances.
We have a minor resistance around $ 44.38, but the resistance at $ 46.36 is much more interesting to work with.
In the daily chart, NIO is already above the 21 ema, and we don’t see the $ 44.38, but the $ 46.36 is a clear mid-term resistance for NIO.
Since it is giving early signs of reversal, the chances that it’ll seek the next resistance are very good. The volume is also quite good, and NIO already did a bullish structure indicating a reversal, when it triggered the bullish pivot at $ 39.62.
It seems NIO will reverse the trend and seek higher levels in the next few days/weeks. Let’s follow it closely. And if you liked the analysis, remember to follow me to keep in touch with my daily updates.
Have a good week!
First, in the 1h chart, we see a clear bull trend. NIO is doing higher highs/lows, and the 21 ema is pointing up. Today we are above the resistance at the gap, indicating that it’ll seek other resistances.
We have a minor resistance around $ 44.38, but the resistance at $ 46.36 is much more interesting to work with.
In the daily chart, NIO is already above the 21 ema, and we don’t see the $ 44.38, but the $ 46.36 is a clear mid-term resistance for NIO.
Since it is giving early signs of reversal, the chances that it’ll seek the next resistance are very good. The volume is also quite good, and NIO already did a bullish structure indicating a reversal, when it triggered the bullish pivot at $ 39.62.
It seems NIO will reverse the trend and seek higher levels in the next few days/weeks. Let’s follow it closely. And if you liked the analysis, remember to follow me to keep in touch with my daily updates.
Have a good week!
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