Short $NIO $29.30. Falling channel. Downtrend will continue in my opinion. Price was rejected at 200 SMA early December 2021. Made lower lows since then. Recently Tried to break above $34 area but failed to maintain the momentum. Soon will test $27 area for support. Any further sell off in this name, going to push the price down my short target of $22 area.
Trade attivo:
Taking support at $27
Trade chiuso: obiettivo raggiunto:
Target reached. NIO trading below $22 level. More downside coming.