NIO: The start of a new bullish movement?

2020년 12월 30일

Hello traders and investors! Let’s see how NIO is doing today!

Ok, NIO defeated the black line at $ 45.46 we discussed yesterday, and now it seems it is reversing the short-term bearish trend. The 21 ema is pointing up again, and the volume is increasing a little.

According to the Principle of Polarity in Technical Analysis, the black line will work as a support from now on, and this is very good news to the bulls.

Let’s see what the daily chart tells us:



We have another Piercing Line candlestick pattern, and the volume is starting to increase again. Today, this pattern was triggered, and this can make NIO defeat the pink line at $ 48.65 for good and lead the stock to new levels.

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Thank you very much.