So recently NIO was thrown on the drawing board...
After peaking at $66.99 in January, the market has cooled down a bit and has found support around $30 2-3 times, all of which has caused a pennant to form which would imply that there is a chance of 75% is that this continuation pattern could push the price further up. The upward price target would come in at a good $75. This 100% price target is not what I'm assuming and my focus is initially on surpassing the previously achieved $66.99. in the event of a fall, the price could plunge towards $25 dollars.
Looking at the 12H chart there seems to be a head and shoulder pattern in the making.
Of course this is speculation but one thing is a fact... we are getting closer and closer to the apex (the point where the support and resistance lines cross) and so there is a good chance that something will eventually happen there.
If it doesn't become Head and Shoulder and the bulls want to bring the market up straight away, you could say that an Extended W pattern has formed
If the bears push the price down, things could get tense at the bottom of the support line.
Final words, we have to look forward to November 16, as NIO will then release the 3rd quarter results.
Nice to know is that at the beginning of October, NIO delivered 10,628 vehicles worldwide in September 2021, an all-time record number, representing a robust growth of 125.7% year-on-year. and on September 30, 2021, NIO opened its NIO House and completed its first batch of vehicle deliveries in Norway. And those are some pretty nice numbers too.
NIO delivered 24,439 vehicles in the three months to September 2021, an increase of 100.2% year-on-year.
and cumulative deliveries of the ES8, ES6 and EC6 as of September 30, 2021 reached 142,036
This is not financial advice!
source: motleyfool.com & tipranks.com
COMBI CHART date 29 oktober !
12H CHART:
After peaking at $66.99 in January, the market has cooled down a bit and has found support around $30 2-3 times, all of which has caused a pennant to form which would imply that there is a chance of 75% is that this continuation pattern could push the price further up. The upward price target would come in at a good $75. This 100% price target is not what I'm assuming and my focus is initially on surpassing the previously achieved $66.99. in the event of a fall, the price could plunge towards $25 dollars.
Looking at the 12H chart there seems to be a head and shoulder pattern in the making.
Of course this is speculation but one thing is a fact... we are getting closer and closer to the apex (the point where the support and resistance lines cross) and so there is a good chance that something will eventually happen there.
If it doesn't become Head and Shoulder and the bulls want to bring the market up straight away, you could say that an Extended W pattern has formed
If the bears push the price down, things could get tense at the bottom of the support line.
Final words, we have to look forward to November 16, as NIO will then release the 3rd quarter results.
Nice to know is that at the beginning of October, NIO delivered 10,628 vehicles worldwide in September 2021, an all-time record number, representing a robust growth of 125.7% year-on-year. and on September 30, 2021, NIO opened its NIO House and completed its first batch of vehicle deliveries in Norway. And those are some pretty nice numbers too.
NIO delivered 24,439 vehicles in the three months to September 2021, an increase of 100.2% year-on-year.
and cumulative deliveries of the ES8, ES6 and EC6 as of September 30, 2021 reached 142,036
This is not financial advice!
source: motleyfool.com & tipranks.com
COMBI CHART date 29 oktober !
12H CHART:
Tims.Technische.Analyse by TIMTIBBO