NIO Inc.Long
The transition from a down trend to a bullish one
NIO has been in a down channel (red channel) after breaking downwards form the massive wedge it formed earlier this year, you can see that wedge in my previous posts.
NIO has now confirmed breaking upwards from that channel and retested that red trend line. NIO will now follow the new bullish channel (green channel) unless it forms a new chart pattern (none seen so far, just the channel... which is good)
I see a reverse head and shoulders (yellow) which I have drawn out a last week and waited for it (the price action) to follow it.
I see NIO going up till $34 before experiencing another small market correction and start heading back up to $100 - $150 by the end of the next two - three years
Not financial advice, just what I see happening. Let me now what you guys think.
NIO has now confirmed breaking upwards from that channel and retested that red trend line. NIO will now follow the new bullish channel (green channel) unless it forms a new chart pattern (none seen so far, just the channel... which is good)
I see a reverse head and shoulders (yellow) which I have drawn out a last week and waited for it (the price action) to follow it.
I see NIO going up till $34 before experiencing another small market correction and start heading back up to $100 - $150 by the end of the next two - three years
Not financial advice, just what I see happening. Let me now what you guys think.
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