Huat99
2022-09-05

$Tiger Brokers(TIGR)$$NIO Inc.(NIO)$A simple Technical Analysis on NIO weekly chart

1. observed that 20 SMA (simple moving average) has once again turned flat (previous occured around Jul~Oct 2022 (red arrows)

2. caused by share price crossing up & down the SMA, abid on lower volatility as compared to previous

3. a major downtrend trendline exist throughtout way back Jan 2021

From Volume Profile, most volume traded between $12.40 ~ $23 (visual estimation). Expect share price to consollidate between this range before the next major move

Support - $12.40

Resist - $23.00

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