The Chinese EV (electronic vehicle) manufacturer NIO broke out of its balanced behavior on the daily periodicity which occurred for several days above the major HTF EMAs and explores new highs alongside TSLA.
Macro perspective framing higher as well. Weekly with previous outside bar followed by a change in the market context towards a balanced behavior with several inside weeks broke out above that rotational price range. Quarterly and monthly perspective one-time-framing higher to discover new higher prices.
Quite optimistic viewpoints out there. A pullback towards the prior bracket high or mean to find new buying activity probable in our humble opinion. Could be confluent of a test with the EMA50 as well. We’ll see.
Here the current Quarterly balance sheet of NIO:
Comments
Log in or sign up to join the conversation.