NIO tested support, now ready to test resistance

May 24, 2021

1. Stochastics, MACD turning up
2. Trying to gain support above moving averages
3. RSI is creating bullish divergence
4. Still ranging in the trangle formation
5. Watch for retest of support areas. If the box holdspossibility of a run to test the last lower high increases

May 25, 2021

Note

Got a death cross on 200 SMA and 50 SMA on the daily today. Price tested the cross and got rejected. Also closed under 200 day EMA. Tomorrow will tell if this upward move is over or just a fakeout for the bears.

May 26, 2021

Note

Yterday's move got a lot of investors on the short side only to crush them up today. Potentially a short squeeze to test the upper resistance areas which may potentially turn into an uptrend. Until $30 is broken, things are looking up from here

Jun 2, 2021

Note

First major resistance is getting tested. Need to watch if the top line of the trangle provides support. If price gets support, it should break the first resistance on the second try and move on to the next level of resistance.