NIO - Possible Break out of a pennant. Looking for $60.00
Updated
NIO has been consolidating since DEC 1. TRND Fired a "Buy" At the bottom on Dec 11th and has held in the new up trend.
Watch for NIO to break out of the pennant.
Confirmation of breakout out of the triangle and above 48.31
From 48.31 we can see it move to 49.61 than all the way to 54.09 with the price target at 61.00
If NIO breaks support of 45.76 we can see a downtrend to 44.51 with a test of support and a bounce back to 45.76 to repeat above steps, or a break at 44.51 to create a further downtrend.
Indicators used are
TRND Bot
TRND Oscillator
Watch for NIO to break out of the pennant.
Confirmation of breakout out of the triangle and above 48.31
From 48.31 we can see it move to 49.61 than all the way to 54.09 with the price target at 61.00
If NIO breaks support of 45.76 we can see a downtrend to 44.51 with a test of support and a bounce back to 45.76 to repeat above steps, or a break at 44.51 to create a further downtrend.
Indicators used are
TRND Bot
TRND Oscillator
Trade closed: stop reached
NIO Broke 45.76 Next stop is 44.51 could see it form a new LL at 42.00
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