Bull case for NIO using EWP

3 févr. 2021Since the start of November of 2020 NIO has traded in an uptrend as pointed out by other traders interested in NIO. More recently it has been moving in a descending wedge pattern as it trades to the lower range of its uptrend to find support. On the daily chart, NIO is also finding support on the 25 day SMMA (and support on the 50 day SMMA on the 4hr) this seems to be converging with the lower support of the uptrend,an imminent MACD buy signal and the plotting of the EWP. The convergences of which may be a strong buy signal.