NIO Cars Have Four Wheels & A Double Bottom?

NIO Cars Have Four Wheels & A Double Bottom?

I am confident that NIO vehicles have four wheels and a double bottom pattern on the daily chart.


Expected move-From the neckline to the peak of the pattern is approximately 10 bars or 10.99 ticks.

What confluences further influenced my position on NIO?

-9 MA approaching the 21 MA for a crossover

-Broke above the weekly timeframe resistance zone

-Bullish Harami pattern spotted on 4H chart.

*Special note- NIO gapped down January 24, 2022. The gap size is approximately 5.08% or 1.32.

The reasons aforementioned is the explanation for my bullish stance on NIO.

*This is not financial advice.

Peace & Prosperity,
MrALtrades00