EVs have had quite the run these past 365 days. The time of reversal and realization has hit the public.
If you caught it, you could have made off pretty. Recently, NIO was negatively diverging on the daily MACD, and then formed a triple top formation before starting its reversal trend.
Now two big key events are taking place:
The MACD is accelerating negatively and we can see this trend remain bearish to the next significant Fibonacci level & demand zone. I see NIO pulling back to $20.
NOTE:
We may see some consolidation around the next fib level ($27.36) before trending lower.
Best of luck, traders and all love out there
If you caught it, you could have made off pretty. Recently, NIO was negatively diverging on the daily MACD, and then formed a triple top formation before starting its reversal trend.
Now two big key events are taking place:
- We are breaking a key support Fibonacci Level
- We have broken a key demand zone
The MACD is accelerating negatively and we can see this trend remain bearish to the next significant Fibonacci level & demand zone. I see NIO pulling back to $20.
NOTE:
We may see some consolidation around the next fib level ($27.36) before trending lower.
Best of luck, traders and all love out there