NIO Seems to be cooling down and preparing for the next jump. There is a massive wedge on the 1D chart which is confirmed by the decreasing volume lasting the whole duration of the wedge (white arrow) and the price action bouncing perfectly between the purple trendlines. I'm expecting NIO to retest the top of the wedge (first green and red arrows) one more time before breaking upwards. I believe that will happen when NIO fully cools off and RSI reaches 30.
Another more fundamentally targeted reason I think Nio will break upwards is due to the amazing things this company is doing between the last ATH high and now, if you guys are interested let me know and I will post a more fundamental piece to not make this one too long.
For the new traders, google the term wedge and read on it to be more confidant in your buys and sells, stay educated, do not listen to just anyone on this website, after all, 90% of traders lose money.
This is just what I see happening, not financial advice. Let me know what you guys think
Another more fundamentally targeted reason I think Nio will break upwards is due to the amazing things this company is doing between the last ATH high and now, if you guys are interested let me know and I will post a more fundamental piece to not make this one too long.
For the new traders, google the term wedge and read on it to be more confidant in your buys and sells, stay educated, do not listen to just anyone on this website, after all, 90% of traders lose money.
This is just what I see happening, not financial advice. Let me know what you guys think