Nio is doing amazingly well these days, but in the past two days we see a congestion, and now NIO finally hit the 38.2% retracement.
Nio must not trade below this level, or itโll hit the 61.8% next, around 45.50. But if the retracement holds the price, then the 50 is the next stop!
We have a strong momentum here, and for now we must focus on the 38.2% retracement. If NIO corrects, the 20ma in the 4h chart is also a support.
All of this tells me that NIO is going to hit the 50s,even if it drops, as we have a lot of supports around.
If you liked this trading idea, remember to click on the โFollowโ button to get more trading ideas like this, and if you agree with me, click on the โAgreeโ button ๐.
See you soon,
Melissa.
Nio must not trade below this level, or itโll hit the 61.8% next, around 45.50. But if the retracement holds the price, then the 50 is the next stop!
We have a strong momentum here, and for now we must focus on the 38.2% retracement. If NIO corrects, the 20ma in the 4h chart is also a support.
All of this tells me that NIO is going to hit the 50s,even if it drops, as we have a lot of supports around.
If you liked this trading idea, remember to click on the โFollowโ button to get more trading ideas like this, and if you agree with me, click on the โAgreeโ button ๐.
See you soon,
Melissa.
