Quick Analysis of Recent NIO Price Movement
Quick Highlights:
-NIO experienced a double bottom between 3/5/21 and 3/8/21
-Reversal seems to be confirmed by price movement since then
-Has tested and broke through strong support lines
-Bounce off of long-term (1Y) trendline
What to look for:
-A test of the $48.80 support
-50MA to cross the 200MA
-NIO experienced a double bottom between 3/5/21 and 3/8/21
-Reversal seems to be confirmed by price movement since then
-Has tested and broke through strong support lines
-Bounce off of long-term (1Y) trendline
What to look for:
-A test of the $48.80 support
-50MA to cross the 200MA
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