NIO Technical Update
Read the post to get the technical analysis for NIO. Or just check out the short video in the link here: https://youtu.be/dPGj9RNI3I8
The most important aspect of the technical picture is what you see here we the price of NIO has broken out above the resistance of this price channel you can see. This is a very bullish breakout the past 4 days this ticker symbol has gone up over 25% I believe so things are looking pretty bullish on the short term picture definitely.
There were several bullish headlines on Monday that's why we had a massive Green Day on Monday I think it was over a 13% gain. So is it time to go long or should we follow this downward channel and look for a short position?
The first thing I want to say is be very careful jumping into a long position after a 27% gain. And also when NIO travel within a trend it can travel very choppy on the way up so it is possible to see a minor correction or some profit taking on the way up. Or sometimes these things just completely rally unnaturally and everyone gets FOMO and the thing could skyrocket further. It has run up so much already so there shoud be a dip in the short term. At least that is what a rational tradder would be waiting for.
The most important levels to watch if the price continues upward are these long-term resistance levels I've highlighted. You can see how the price reacts at these levels as they act as strong support and resistance.
The most important levels to watch if the price continues upward are these long-term resistance levels I've highlighted. You can see how the price reacts at these levels as they act as strong support and resistance.
$TENCENT (00700.HK)$ $SSE Composite Index (000001.SH)$ $CSI 300 Index (000300.SH)$ $CSI 300 Index (000300.SH)$ $FTSE Singapore Straits Time Index (.STI.SG)$ $NIO-SW (09866.HK)$ $NIO Inc. USD OV (NIO.SG)$ $NIO Inc (NIO.US)$ $BILIBILI-W (09626.HK)$ $Bilibili (BILI.US)$ $Baidu (BIDU.US)$ $BIDU-SW (09888.HK)$ $XPeng (XPEV.US)$ $Li Auto (LI.US)$ $BYD COMPANY (01211.HK)$ $BYD Company Limited (002594.SZ)$
$Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $SPDR S&P 500 ETF (SPY.US)$ $iShares Russell 2000 ETF (IWM.US)$ $VIX Index Futures(NOV4) (VXmain.US)$ $Gold Futures(DEC4) (GCmain.US)$ $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf (UUP.US)$ $SPDR Gold ETF (GLD.US)$ $iShares Silver Trust (SLV.US)$ $Ishares Iboxx $ High Yield Corporate Bond Etf (HYG.US)$ $Ishares Iboxx $ Investment Grade Corporate Bond Etf (LQD.US)$ $iShares 20+ Year Treasury Bond ETF (TLT.US)$ $Crude Oil Futures(DEC4) (CLmain.US)$
$Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $SPDR S&P 500 ETF (SPY.US)$ $iShares Russell 2000 ETF (IWM.US)$ $VIX Index Futures(NOV4) (VXmain.US)$ $Gold Futures(DEC4) (GCmain.US)$ $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf (UUP.US)$ $SPDR Gold ETF (GLD.US)$ $iShares Silver Trust (SLV.US)$ $Ishares Iboxx $ High Yield Corporate Bond Etf (HYG.US)$ $Ishares Iboxx $ Investment Grade Corporate Bond Etf (LQD.US)$ $iShares 20+ Year Treasury Bond ETF (TLT.US)$ $Crude Oil Futures(DEC4) (CLmain.US)$
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