Nio is now trading around the level of March 5. According to our primary expectation, the share is likely to fall below this level once again before the magenta-colored wave (C) and thus the superordinate beige-colored wave II comes to an end. Only when this low has been established should the stock return to a sustainable upward structure. Initially, the blue wave (i) should ensure a rise above the resistance at $7.02.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
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.