12/16/2020 NIO - long
Updated
Hi all,
Poor baby is abandoned yesterday. Strong bullish signal...we have to watch two more things for the bullish confirmation.
1. NIO has to successfully defend SL1 when it re-test. If not, it will most likely go sideways or re-test SL2 / 50 SMA.
2. NIO consolidates between $43-$44 area creating Doji candle, we will see green candle day after.
The price target is below. I would liquidate below target price as we are near at the end of the bull market.
Conservative price target: $50
Aggressive price target: $57
Poor baby is abandoned yesterday. Strong bullish signal...we have to watch two more things for the bullish confirmation.
1. NIO has to successfully defend SL1 when it re-test. If not, it will most likely go sideways or re-test SL2 / 50 SMA.
2. NIO consolidates between $43-$44 area creating Doji candle, we will see green candle day after.
The price target is below. I would liquidate below target price as we are near at the end of the bull market.
Conservative price target: $50
Aggressive price target: $57
Trade active
Trade closed: target reached
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