Long

Let's see if NIO can rally to $51.

Updated

NIO's been in an ascending channel for the last month. It's currently testing the lower trendline. If it holds and we get upward movement, we can test $51 soon.

Things to look out for:
1. The MACD just crossed, so we will need to be mindful of this. We'll need to see a cross upward by EOD tomorrow.
2. RSI is pretty joocy right now in the 50s. If we can get it to move up while the MACD crosses, should be some confirmation.

Would love to see NIO stay in this ascending channel. If it continues and we pull back a bit from $51, we may be able to test $55 price action around Independence Day.

Trade closed manually

Broke the ascending channel. Look at price action now.

wujo

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