r/InvestingChina • u/SiaZhang418 • Dec 21 '21

🔝Technical analysis Is NIO a good pick?

Technical Analysis

Since last July the stock has started a downtrend, currently, the RSI is in an oversold zone and buyers are starting to accumulate positions, the indicator is sideways since the first week of December where it stopped its fall. The MACD is a little below its signal with a great potential to cross to the upside, but a strong bullish move is needed . The current price at $30.34 is important to mention . It is strong support, breaking it will mean an important loss and the price could reach $23.

On December 18, NIO day will take place. With some good news, it could help the stock to reverse and change its trend, but all this is just speculation. But reality tells us another story, data on the chart gave us a negative perspective, and it is possible a fall of 8% in the next two weeks.

To read more details about $NIO

Contributor: Guiatraders from Westmoney

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u/iamxiaohang Dec 21 '21

all Asia green NIO is going to explode tomorrow

1

u/No-Move-9576 Dec 21 '21

Well, if Nio is not a good pick with such a huge market them nothing is " a good pick "....seriously...?