As you saw in my earlier ideas, NIO has had a huge correction over last few months. After the huge drop to $32, we saw pullback. We then saw 3x more drops to $34, this is now support.
The price then dropped to $35, a higher low.
Then we saw price $36, another higher low.
As you can see the bottom is now in and major resistance levels formed at $36.50, $36, $35 and $34.
I have been averaging down all the way from £48 down to $34, bringing my average buy price to $36. I am finally in the green.
You can see the price is currently trading in an upward channel. I expect price to reach £40 in coming days and break upwards. We are getting higher highs and higher lows. Clear change in trend!
Happy trading.
The price then dropped to $35, a higher low.
Then we saw price $36, another higher low.
As you can see the bottom is now in and major resistance levels formed at $36.50, $36, $35 and $34.
I have been averaging down all the way from £48 down to $34, bringing my average buy price to $36. I am finally in the green.
You can see the price is currently trading in an upward channel. I expect price to reach £40 in coming days and break upwards. We are getting higher highs and higher lows. Clear change in trend!
Happy trading.
Comment:
As you can see from my post yesterday, the price is moving exactly as predicted. We have gone above the main downtrend line and broke above. I can see the price moving up to $40 and then up to $45 price range gap.
Trade active:
Next target $45.00.
Trade active:
$45 target within reach! NIO is extremely bullish. All confirmations are in.
We will se $45-50 soon!
We will se $45-50 soon!