NIO: Confluence of Factors
1. NIO is back above $30 level, does it look like a fake / shake-out to you? It certainly does to look like that to me!
2. Now have a look at the weekly chart and see how both Fibonacci 61.8% level and 100 weekly MA create a nice confluence at the rebound area on the chart.
3. Nice confluence leads to stronger confidence in the price at this level.
4. Conclusion going forward - we are going upward from here!
Due your own analysis and please share comments down below.
-LTT
2. Now have a look at the weekly chart and see how both Fibonacci 61.8% level and 100 weekly MA create a nice confluence at the rebound area on the chart.
3. Nice confluence leads to stronger confidence in the price at this level.
4. Conclusion going forward - we are going upward from here!
Due your own analysis and please share comments down below.
-LTT
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