NIO: A pullback ahead? Targets for NIO!
Hello traders and investors! Let’s see how NIO is doing today!
Well, NIO triggered the Pivot Point we mentioned in my last analysis, and it just resumed the bull trend, as we already expected. If you lost my previous NIO analysis, the link to it is below, and remember to follow me to not miss my future analyses!
The trend is still bullish, and there’s nothing indicating that it is going to change (not right now). Let’s remember Dow Theory 6th tenet: “Trends Persist Until a Clear Reversal Occurs”.
The 21 ema is pointing up, and we would only see a pullback on NIO if it closes under the pink line at $ 32.20. But this doesn’t mean the trend will change, because the daily chart is still bullish. Let’s look at it:
Again, if NIO loses the pink line, a pullback to the green line at $ 29.40, or even to the 21 ema in the daily chart would be acceptable, and it wouldn’t ruin the bullish momentum.
NIO is trading at record highs, and there are no clear targets for it. You may use Fibonacci if you want, but I rather prefer to stick with Price Action only, and just react to the signs. Since it is a bull trend, remember: Pullbacks are just opportunities to buy.
Either way, let’s watch this pink line carefully, s if NIO loses it, it’ll seek the targets mentioned in this analysis. And if you liked this idea, please, support it! And again, follow me to keep in touch with my daily studies.
Have a great Monday!
Well, NIO triggered the Pivot Point we mentioned in my last analysis, and it just resumed the bull trend, as we already expected. If you lost my previous NIO analysis, the link to it is below, and remember to follow me to not miss my future analyses!
The trend is still bullish, and there’s nothing indicating that it is going to change (not right now). Let’s remember Dow Theory 6th tenet: “Trends Persist Until a Clear Reversal Occurs”.
The 21 ema is pointing up, and we would only see a pullback on NIO if it closes under the pink line at $ 32.20. But this doesn’t mean the trend will change, because the daily chart is still bullish. Let’s look at it:
Again, if NIO loses the pink line, a pullback to the green line at $ 29.40, or even to the 21 ema in the daily chart would be acceptable, and it wouldn’t ruin the bullish momentum.
NIO is trading at record highs, and there are no clear targets for it. You may use Fibonacci if you want, but I rather prefer to stick with Price Action only, and just react to the signs. Since it is a bull trend, remember: Pullbacks are just opportunities to buy.
Either way, let’s watch this pink line carefully, s if NIO loses it, it’ll seek the targets mentioned in this analysis. And if you liked this idea, please, support it! And again, follow me to keep in touch with my daily studies.
Have a great Monday!
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