$NIO head in shoulders pattern.

Jul 19, 2021

NIO just finished the second shoulder on the head in shoulders pattern. It's currently sitting on the neckline, and we have seen several candles try to break that neckline support and fail to do so. However, the head and shoulders pattern is bearish, and I believe we will break that support and fall to 39.69. I would like to see a break and close under the neckline to enter a weekly put position.