NIO: Next targets + Weekly analysis.
• NIO hit a very important support level last week, and it did a bullish reaction;
• The support area made by the purple trend line + $9.40 is the most important support level for NIO. If it loses both lines, the next support is at $5.70;
• This week’s reaction was quite intense, and NIO is trying to reject the bullish reaction from last week;
• If NIO reacts after earnings, it could bounce again to its 21 ema, however, if it loses the $9.40, any possible bullish structure will be rejected;
• Let’s pay attention on how it’ll react near the lines plotted on the chart above.
Remember to follow me to keep in touch with my analyses!
• The support area made by the purple trend line + $9.40 is the most important support level for NIO. If it loses both lines, the next support is at $5.70;
• This week’s reaction was quite intense, and NIO is trying to reject the bullish reaction from last week;
• If NIO reacts after earnings, it could bounce again to its 21 ema, however, if it loses the $9.40, any possible bullish structure will be rejected;
• Let’s pay attention on how it’ll react near the lines plotted on the chart above.
Remember to follow me to keep in touch with my analyses!
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