Watch out this support level on NIO! 👀

We have a few things to keep in mind here:

First, it is a bullish momentum, and rn it is just dropping to the support at the 20ma/previous resistance at 46.26. Nothing amazing. But, if NIO loses both supports, it’ll trigger the advanced breakdown as the RSI suggests.

snapshot

We have a small divergence in the 4h chart, just when we hit a resistance. Also, we went briefly outside the BB, but NIO managed to close inside the bands in the end, which is not a buy sign for sure.

You guys know that I’m out of NIO again, and I’m just waiting for another good opportunity around.

When I’ll trade it again? When it gets closer to a support level, that could be the 20ma or the 42 area.

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See you soon,
Melissa.
Technical IndicatorsNIOpullbackRelative Strength Index (RSI)rsi_divergenceSupport and ResistanceTrend Analysis

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