$NIO TOP 20
Added 2024-02-22 17:09:45 +0000 UTCWe can see here that the 200 MA on the 1hr chart has been the resistance line and it hit 3 times over the last week....we can see that the 50 MA was moving up very close to the 200 MA at the opening today and because they were both getting tight, the price action needed to take a direction.....a breakout above $6.28 or break down.....and unfortunately it broke down but has managed to hold above the previous low from the 13th of Feb.
Consolidating sideways until earnings on the 5th of March is still a possibility and I am not too concerned about this.
