Double bottom formin on NIO

2 באפר׳ 2021

has had a massive downtrend since it has missed earnings, however, I do believe in NIO as it is backed by the Chinese government and it is an EV company after all. lets see if it could hold the current support level.

4 באפר׳ 2021

הערה

The reason why it is struggling on the support level. In the premarket, the price of NIO went up by 7.52%. then the price continued to decline for the rest of the day as price action has the tendency to fill price gaps 9 out of 10 times when price gaps occour. the price did fill the gap as show and is forming a symmetrical triangle on support which I could consider bullish as it is form an uptrend may be a good swing for this coming week, with short term PT for this week at $42.

8 באפר׳ 2021

הערה

double bottom didn't form, price moving sideways