NIO: The most important key point for the mid-term!

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

First, we have a key point at $ 46.99. If NIO defeats this red line, the odds are that it’ll do a good reversal in the mid-term seen in the daily chart too.

Let’s keep in mind that the trend is still bearish (short-term), and we have no reversal sign triggered so far, but it seems the $ 43.78 is a nice support for us. What’s more, the 21 ema is finally flat again, indicating some weakness of the bearish momentum, and we are trying to trade above it right now.



In the daily chart we see that the $ 43.78 is indeed a strong support level, and the 21 ema is at the same price level as in the 1h chart, which is quite interesting.

However, NIO is still in a bull trend in the daily chart too, as we do have a series of higher highs/lows, despite the recent pullback. Now the situation is quite simple, if we lose the support level, we might see more correction. On the other hand, if we trigger the point mentioned in the 1h chart, we can finally fly again.

How NIO will behave next? Only time will tell, but we already have a strategy for it! If you like my free analyses, remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!

Thank you very much!