$NIO Inc.(NIO)$ NIO has formed

NIO has formed a classic descending triangle pattern, which has bearish implications.

Chart patterns are illustrations of the supply and demand dynamics occurring within a market. This pattern shows buyers of NIO have been complacent. At the same time, sellers are becoming more aggressive.

Since early March buyers have held firm at the $35 level. At the same time, sellers have been knocking the shares lower.

In mid-March, the lowest price sellers would accept for their shares was around $45. By early April it had dropped to $40. Now there are sellers willing to accept $35.

The combination of aggressive sellers and complacent buyers could drive the price lower.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Dy0ng
2021-04-20
Dy0ng
Time to go up again [开心]
何安迪
2021-04-18
何安迪
[财迷] [财迷] [财迷]

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