This chart is pretty easy to read. NIO has a pivot at 45.97, and it it breaks this point, it’ll trigger this pivot, and possibly an inverted head and shoulders. This would be awesome for NIO, and it could seek the 50s again.
Also, it is curious to notice how the red line, a previous support line, was a resistance today. The market always remembers some breakpoints.
Like the red line wasn’t enough, this price is at the 20ma in the 4h chart, and we have an advanced breakdown on the RSI. Together, these indicators can make NIO drop a little bit more.
Either way, it must not lose the 43.89, as this will trigger a bear trend. Let’s focus on the points mentioned here and we’ll be fine. 😊
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.
Also, it is curious to notice how the red line, a previous support line, was a resistance today. The market always remembers some breakpoints.
Like the red line wasn’t enough, this price is at the 20ma in the 4h chart, and we have an advanced breakdown on the RSI. Together, these indicators can make NIO drop a little bit more.
Either way, it must not lose the 43.89, as this will trigger a bear trend. Let’s focus on the points mentioned here and we’ll be fine. 😊
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.
