This is a basic analysis based on recent support and resistance levels.
Nio is making IMPULSIVE moves in downside direction
and for short term it MIGHT bounce to whatever level it CAN but IF IT BOUNCED then highly likely it would be getting rejected from its Recent levels which is 34-35$.
As I said in my previous long term analysis for Nio, I used different Perspective and still could not find evidence regarding bullish case for Nio.
So, Nio is looking very bearish for foreseeable future and Please note This analysis is not intended for Short term movements.
Also, I could very well be wrong. Thus, Trade safely and I hope you would like this educational idea about Nio.
Nio is making IMPULSIVE moves in downside direction
and for short term it MIGHT bounce to whatever level it CAN but IF IT BOUNCED then highly likely it would be getting rejected from its Recent levels which is 34-35$.
As I said in my previous long term analysis for Nio, I used different Perspective and still could not find evidence regarding bullish case for Nio.
So, Nio is looking very bearish for foreseeable future and Please note This analysis is not intended for Short term movements.
Also, I could very well be wrong. Thus, Trade safely and I hope you would like this educational idea about Nio.
