Here is the promised update to the NIO chart idea I noticed. Check out my other post where I explain why NIO's chart is showing signs of a measured move pattern, here I am simply just giving an update to my followers.
It seems like NIO is following the second leg/stride however we still need some more confirmation. I am waiting to see it have a clear bounce off the second leg's bottom trendline and hopefully off the top one in the future to really confirm it, however, it's following the pattern really nicely.
The 200 MA is there as a great support as well and my favorite green trendline stood the test of time and has proved to be very strong.
All signs for a great bullish push very soon.
This is not financial advice, just what I see happening. Like if you agree, comment and let me know what you guys think of this idea.
It seems like NIO is following the second leg/stride however we still need some more confirmation. I am waiting to see it have a clear bounce off the second leg's bottom trendline and hopefully off the top one in the future to really confirm it, however, it's following the pattern really nicely.
The 200 MA is there as a great support as well and my favorite green trendline stood the test of time and has proved to be very strong.
All signs for a great bullish push very soon.
This is not financial advice, just what I see happening. Like if you agree, comment and let me know what you guys think of this idea.
Comment:
Nio broke the bottom trend line of the C-D leg and therefore I'm going to put the idea on hold since it does not seem to be following the pattern.