NIO Inc (US: NIO) Strong upside is set to continue after the stock has repeated broken out of the larger pennant and the smaller flag previously. As such, the stock is set to potentially breaking new high based on the technical presented:
*Timeline of the trade is 3 weeks from the date issued.
CHART LEGENDS
Ichimoku Kinko Hyo
Red dotted line = 9 Periods Tenkan-Sen
Blue dotted line = 26 periods Kijun-Sen
Purple Line A= 26 periods Senkou Span A
Purple Line B = 52 periods Senkou Span B
plotted 26 periods ahead
Green line = 26 periods Chikou Span. Lagging line
Wei Ren specialises in Technical Analysis and has 9 years of experience in studying classic technical price action. He also study and research extensively on Elliott wave theory, Dow Theory and Supply & Demand strategies as he believes that history plays an important role in how the market is reflected in the future.
He graduated with a Bachelor of Economics and Finance from University of Murdoch.