Nio was one of the top stocks in 2020, making even Tesla look like a savings bond. It’s pulled back hard and is now stabilizing with earnings around the corner.
The biggest pattern is the 200-day moving average. Interestingly, TSLA bounced at this exact same line almost exactly one year ago.
Next is the tightening triangle, with a series of lower highs and higher lows. The 21-day exponential moving average has marked the top of that range. But NIO’s closed above it for the last two days…
For more, please click here to view the related idea and chart analysis on TradingView.
Credit: Source link