Yes, NIO is doing amazingly well, but nothing can go up forever. At one point, weโll find NIO around a support level again, and this is going to be just another chance for us to trade it again. We did a great trade last week, so, I'm fine waiting for the next one.
For now, we see that it lost the 20ma, and the volatility is decreasing, as the BB gets tighter. The RSI is still above the 50, indicating that NIO is still strong, and the trend is still bullish.
Given that NIO is pretty close to the top at 43.21, and the RSI is very overbought, and that we had a bearish candlestick today, Iโll just wait for the next trade to appear in front of us.
If NIO fills the gap at 38.89 itโll be perfect, but letโs see. We are also pretty far from the 20ma, and at one point, weโll get closer to it. Letโs see how NIO will move this week, but I think weโll trade it only next week โ this is not a promise though.
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.
For now, we see that it lost the 20ma, and the volatility is decreasing, as the BB gets tighter. The RSI is still above the 50, indicating that NIO is still strong, and the trend is still bullish.
Given that NIO is pretty close to the top at 43.21, and the RSI is very overbought, and that we had a bearish candlestick today, Iโll just wait for the next trade to appear in front of us.
If NIO fills the gap at 38.89 itโll be perfect, but letโs see. We are also pretty far from the 20ma, and at one point, weโll get closer to it. Letโs see how NIO will move this week, but I think weโll trade it only next week โ this is not a promise though.
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.