NIO bearish scenario
I got excited about NIO looking at its weekly chart but when I zoomed it and tried to do more in-depth analysis I noticed some things I didn't like about it and they lead me to think we will be looking at short-term pullback in this stock soon. Please see notes on the chart, I think it might go as low as $41.7 where it would also test moving average for support. This is probably 1-2 weeks timeframe, uptrend could resume if supports hold. Please let me know what you think.
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NIO bearish scenario
NIO Inc. NYSE:NIO
I got excited about NIO looking at its weekly chart but when I zoomed it and tried to do more in-depth analysis I noticed some things I didn't like about it and they lead me to think we will be looking at short-term pullback in this stock soon. Please see notes on the chart, I think it might go as low as $41.7 where it would also test moving average for support. This is probably 1-2 weeks timeframe, uptrend could resume if supports hold.
Please let me know what you think.
