NIO, 1-2 week horizon
NIO has been trading in a bullish channel. A major channel in green and secondary channel in purple.
Price broke off secondary channel about a month or two ago but has been respecting the major channel. Currently at the top outer boundary of secondary channel which is also acting as support. If this holds, we may be seeing more upward price movement.
I have my buy zone at a good location with multiple levels of support. (55.69 support, upper channel support, 61.8% fib)
Next support is at 50ema (around 50.94 area)
Target 1: 66.61, Target 2: 73.55, Target 3: 84.55, Stop loss: 52.43. 19% upside versus 6% downside.
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
NIO has been trading in a bullish channel. A major channel in green and secondary channel in purple.
Price broke off secondary channel about a month or two ago but has been respecting the major channel. Currently at the top outer boundary of secondary channel which is also acting as support. If this holds, we may be seeing more upward price movement.
I have my buy zone at a good location with multiple levels of support. (55.69 support, upper channel support, 61.8% fib)
Next support is at 50ema (around 50.94 area)
Target 1: 66.61, Target 2: 73.55, Target 3: 84.55, Stop loss: 52.43. 19% upside versus 6% downside.
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.