NIO Long Possibility
EVS took a beating last week in the market. I am looking to re-enter into my stake of NIO. The green bar is a reflection of what I perceive to be a demand zone for NIO. It has been on an uptrend and a break and hold below this level will signal to me that its market structure has changed and I will thus enter a sell. But I like the odds of buys around this area. Stimulus news + Vaccines will continue to push the market higher IMO.
My Plan and thoughts
- Demand zone showing confluence nicely with the .618 Golden ratio on retracement
- Approaching oversold on RSI. (Not there yet so I'm patient)
- If it gaps up my next point of entry will be at $47 where I would like to see a test and break of the 50EMA.
- If it gaps down I will see how it tests my demand zone.
- Great R:R trade :)
*All charts posted are for educational purposes only.
My Plan and thoughts
- Demand zone showing confluence nicely with the .618 Golden ratio on retracement
- Approaching oversold on RSI. (Not there yet so I'm patient)
- If it gaps up my next point of entry will be at $47 where I would like to see a test and break of the 50EMA.
- If it gaps down I will see how it tests my demand zone.
- Great R:R trade :)
*All charts posted are for educational purposes only.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.