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chiefwils0n

Wait for break-out above resistance. Target: $23

Long
NIO Inc. (NYSE:NIO)  
chiefwils0n  
NYSE:NIO   NIO Inc.
Trend Analysis Chart Patterns Technical Indicators Symmetrical Triangle accumulation_distribution
8
3
trendanalysis chartpattern indicator symmetricaltriangle accumulation_distribution
Greetings. I'm still bullish on NIO, given the symmetrical triangle pattern, which is neutral and slightly bullish since it formed after an uptrend. The accumulation/distribution line indicates that the market has been slowly and steadily accumulating shares before the anticipated breakout. If price breaks above resistance, the target is $23 which is a 1:1 ratio of the base of the symmetrical triangle.

Happy Trading!

Idee correlate

chiefwils0n
Bullish, but NIO may need more time to develop.
chiefwils0n
Pending Breakout. Target $19
chiefwils0n
Bullish Pennant. Target: $16.50 (Resistance)
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