NIO: Making very precise and technical movements!
Hello traders and investors! Let’s see how NIO is doing today!
First, NIO did what it should’ve done: Triggered an Inverted Head & Shoulders chart pattern, as we already discussed in my last analysis (Jan 8, link below if you missed). It hit the previous resistance at $ 64.45 and now it is to the blue line again - all with astonishing precision.
This movement is not scary at all, as IH&S have a pullback rate to the neckline of roughly 66% of the time. But the question is, if NIO will resume its bullish momentum, or if it’ll engage in a bear trend from now on.
Let’s see the daily chart for more clues:
The thing is, NIO is still accumulating, and a pullback to the 21 ema is expected. The volume increased when NIO started to climb up, but it is decreasing during this drop, which is something worth to notice.
So far, we have no clear reaction here, but we might see one soon, otherwise NIO will just drop to the $ 57.20 or 21 ema again next. If NIO is up or down, the chart will give us more clues soon, so it is important to monitor NIO closely from now on, as it is at a decisive point.
If you liked this analysis, remember to follow me to keep in touch with my updates, and support this idea if it helped! Check my other analyses if you liked my style, I'll leave some links below.
Have a great weekend, and a nice Holiday! See you Tuesday.
First, NIO did what it should’ve done: Triggered an Inverted Head & Shoulders chart pattern, as we already discussed in my last analysis (Jan 8, link below if you missed). It hit the previous resistance at $ 64.45 and now it is to the blue line again - all with astonishing precision.
This movement is not scary at all, as IH&S have a pullback rate to the neckline of roughly 66% of the time. But the question is, if NIO will resume its bullish momentum, or if it’ll engage in a bear trend from now on.
Let’s see the daily chart for more clues:
The thing is, NIO is still accumulating, and a pullback to the 21 ema is expected. The volume increased when NIO started to climb up, but it is decreasing during this drop, which is something worth to notice.
So far, we have no clear reaction here, but we might see one soon, otherwise NIO will just drop to the $ 57.20 or 21 ema again next. If NIO is up or down, the chart will give us more clues soon, so it is important to monitor NIO closely from now on, as it is at a decisive point.
If you liked this analysis, remember to follow me to keep in touch with my updates, and support this idea if it helped! Check my other analyses if you liked my style, I'll leave some links below.
Have a great weekend, and a nice Holiday! See you Tuesday.
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