As I mentioned in my previous idea, NIO was about to correct around $51 dollar area where it hit the resistance of the downward sloping trendline.
That indeed happened as expected.
The correction that followed leading the price of NIO down to $38-$40 area in my view presented a nice buying opportunity and still does.
What we are witnessing in today's price action is NIO overtaking the all-important 50 day moving average on the daily chart.
More upside ahead?
Share your comments and please due your own DD and trade safely!
That indeed happened as expected.
The correction that followed leading the price of NIO down to $38-$40 area in my view presented a nice buying opportunity and still does.
What we are witnessing in today's price action is NIO overtaking the all-important 50 day moving average on the daily chart.
More upside ahead?
Share your comments and please due your own DD and trade safely!
