NIO Inc.Long
NIO stock analysis using my boxes strategy
Today I am taking a look at a Chinese EV manufacturer NIO stock price movement.
NIO stock price has been moving mostly sideways since the end of last year.
Price was trapped in between two major supply and demand areas: 30.5 and 54.5. This area is outlined by a big box.
The only exception was the breakout on January 2021, but price quickly reversed after rejection from the trend-line at 66.7 level.
Key points of analysis:
When you see this kind of movement in price the best strategy for a shorter-term trading is buying at the support levels and selling at the next resistence.
My outlook for the stock:
I believe it will go higher in the shorter term to test 47-49 levels.
Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise.
NIO stock price movement.NIO stock price has been moving mostly sideways since the end of last year. Price was trapped in between two major supply and demand areas: 30.5 and 54.5. This area is outlined by a big box.
The only exception was the breakout on January 2021, but price quickly reversed after rejection from the trend-line at 66.7 level.
Key points of analysis:
- Boxes capture consolidation of a price range or simpler a sideways movement.
- Stock price trends after a box breakout to test support/resistence.
When you see this kind of movement in price the best strategy for a shorter-term trading is buying at the support levels and selling at the next resistence.
My outlook for the stock:
I believe it will go higher in the shorter term to test 47-49 levels.
Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.