Nio 2020, a stong finish is coming.
Glad you guys loved the previous Nio predictions, here's 1 more into the end of the year. Bears have had a feast these past couple weeks, but a couple indicators are telling me this one is due for reversal, and this chart is how I see it happening.
Previous predictions projected using measured moves, so during the last Nio sell of and dip from highs we do the same.
We use candles to show us that $38 is a very likely bottom, not only was it a steal, it was a phycological buy for bulls as it could be the last time we see 330S again, IMO.
A new "base" or "bottom" would be the $40.50 area, which is where we'll be measuring from
Using a date measure to see how long the move could possibly take(previous run with minimal resistance used), we see an 11 bar or 15 day move.
Using a dollar amount measured move from the base, we can expect a move around $16.17. This target puts us at $58 by December 22nd.
Using a percentage move of the same run, we get a 57.37% move. Measured from the base it gives the target of $65-$68 by December 22nd.
Adding my own opinion on these targets, end of year is more feasible but definitely attainable.
Good luck all happy trading!!
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Previous predictions projected using measured moves, so during the last Nio sell of and dip from highs we do the same.
We use candles to show us that $38 is a very likely bottom, not only was it a steal, it was a phycological buy for bulls as it could be the last time we see 330S again, IMO.
A new "base" or "bottom" would be the $40.50 area, which is where we'll be measuring from
Using a date measure to see how long the move could possibly take(previous run with minimal resistance used), we see an 11 bar or 15 day move.
Using a dollar amount measured move from the base, we can expect a move around $16.17. This target puts us at $58 by December 22nd.
Using a percentage move of the same run, we get a 57.37% move. Measured from the base it gives the target of $65-$68 by December 22nd.
Adding my own opinion on these targets, end of year is more feasible but definitely attainable.
Good luck all happy trading!!
Come join us for more charts like this, and live stock alerts and news: kick-assets.com/join/
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