NIO Imitating 2020 drop!
watch my other idea as well to see what happened in 2020
6feb 20 / 23march 20 > 45/55 percent decline,
depending on what top u choose,
the stock took 44 days to regain rougly 55 percent some time later the stock REALLY broke out
RSI was oversold on the daily under the 40 line at the 23rd this happened todat as well.
we can see a trend line that started before the run up where the stock stays UNDER until it broke out
finally we see the same top pattern with a W forming
from the 10th of feb 21 /9th of march the stock is down 42 percent. thats in 27 days.
if we would follow the same percentages we would go down to the 28 dollar resistance line, it is possible we are going there in the next 10 days.
if we draw a trendline on the current price and measure it out we touch this current trend line again in 44 days with a 55% upside exactly like last year.
or i think we could fall down later and make a more steep recovery
be wary NIO made a W on the bottom in 2020, we might see this happen again as well, trade with this in mind
6feb 20 / 23march 20 > 45/55 percent decline,
depending on what top u choose,
the stock took 44 days to regain rougly 55 percent some time later the stock REALLY broke out
RSI was oversold on the daily under the 40 line at the 23rd this happened todat as well.
we can see a trend line that started before the run up where the stock stays UNDER until it broke out
finally we see the same top pattern with a W forming
from the 10th of feb 21 /9th of march the stock is down 42 percent. thats in 27 days.
if we would follow the same percentages we would go down to the 28 dollar resistance line, it is possible we are going there in the next 10 days.
if we draw a trendline on the current price and measure it out we touch this current trend line again in 44 days with a 55% upside exactly like last year.
or i think we could fall down later and make a more steep recovery
be wary NIO made a W on the bottom in 2020, we might see this happen again as well, trade with this in mind
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