The previous correction cycle, after breaking the local low, ended with a cup and a nice bounce came. The current situation is reminiscent of the previous one. However, if there is a similar volume of short closing now, the down trend of about two years can easily be broken. I also see signs of this on a larger time plane, on a weekly chart.
Strong bullish MACD divergence on a weekly chart. I think we are close to the breakout.
I was also waiting for the latest earnings report after a big drop, later the patience paid off. (: The pattern was similar, so I'm still optimistic. Good luck to everyone.
I find it a buggy thing that the market also sold the NIO because of the TSLA, but the co-movement of the sector has resulted in a good entry. I think for a number of reasons that, a serious rise in the exchange rate is expected, e.g. the consumer power of the Chinese market, expansion, etc. Good luck to everyone. (:
First of all, we must not forget that we are looking at a very young stock. It also offers a more hectic exchange rate and serious potential. The support level around $ 24 has proven to be stable on several occasions even on worse days - from a different point of view, the stock is a rare good buy here. The pessimism caused by the report will soon pass. One after...
Promising is an increase in turnover, if it will be permanent it may break a new peak in the exchange rate. Good luck to everyone and great traffic to NIO (:
My target is 86.11 (:
Slowly finished the expected cup. After the formation of the shape, if the exchange rate successfully erupts from it, an increase of the same volume as the height of the cup can be expected. Bull on the springboard. (: Good luck to everyone. (A little correction: I corrected the yellow line because it shifted from what I had previously communicated and wanted to...
Slowly finished the expected cup. After the formation of the shape, if the exchange rate successfully erupts from it, an increase of the same volume as the height of the cup can be expected. Bull on the springboard. (: Good luck to everyone.
Maybe the next trading day will tell you. In my opinion, a lot depends on supporting the 200-days moving average.
One more cup of potential from the African Megatrend. (I think.)