hi Traders
How are you today? Do you like NIO stock today?
The price of NIO is currently sitting right at the apex of a narrowing wedge, indicating that a decisive breakout is likely imminent. This technical formation has been building for months, and the price has now tightened into a point where volatility and direction are expected to return soon.
The RSI (Relative Strength Index) is showing bullish signs, with an upsloping structure despite the sideways price action, which suggests growing bullish momentum under the surface. This hidden strength adds confidence to a potential bullish breakout.
We’ve identified two key upside targets for the bulls:
🎯 Target 1: $5.24 — a 45% move from current levels
🎯 Target 2: $7.70 — previous resistance and a major psychological level
However, on the flip side, if the price breaks down from this pattern instead of up, we could see NIO revisit levels as low as $2.20, which would delay the bullish scenario significantly and potentially extend the consolidation phase.
Summary:
🔺 At apex of wedge pattern — breakout expected soon
📈 RSI is bullish and rising, indicating potential strength
🎯 Bullish targets: $5.24 and $7.70
⚠️ Bearish breakdown risk: Downside to $2.20
Traders should watch for a confirmed breakout or breakdown before entering, as momentum can accelerate quickly once direction is established.
How are you today? Do you like NIO stock today?
The price of NIO is currently sitting right at the apex of a narrowing wedge, indicating that a decisive breakout is likely imminent. This technical formation has been building for months, and the price has now tightened into a point where volatility and direction are expected to return soon.
The RSI (Relative Strength Index) is showing bullish signs, with an upsloping structure despite the sideways price action, which suggests growing bullish momentum under the surface. This hidden strength adds confidence to a potential bullish breakout.
We’ve identified two key upside targets for the bulls:
🎯 Target 1: $5.24 — a 45% move from current levels
🎯 Target 2: $7.70 — previous resistance and a major psychological level
However, on the flip side, if the price breaks down from this pattern instead of up, we could see NIO revisit levels as low as $2.20, which would delay the bullish scenario significantly and potentially extend the consolidation phase.
Summary:
🔺 At apex of wedge pattern — breakout expected soon
📈 RSI is bullish and rising, indicating potential strength
🎯 Bullish targets: $5.24 and $7.70
⚠️ Bearish breakdown risk: Downside to $2.20
Traders should watch for a confirmed breakout or breakdown before entering, as momentum can accelerate quickly once direction is established.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.