NIO quotes continue to move within a minor correction and a bullish channel. Moving averages indicate a short-term uptrend in the NIO. Prices are testing the areas between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the share price is 50.39. As part of the forecast, we should expect an attempt to develop a correction and a test of the support level near the 48.05 area. Further, the rebound and the continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 62.05 in July 2021.
NIO Forecast and Analysis for July 2021
An additional signal in favor of raising the NIO quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the price of NIO shares will be a fall and a breakdown of the level of 45.05. This will indicate a breakdown of the support area and a continued fall into the area at the level of 40.00. Expect an acceleration in the rise of shares with the breakdown of the resistance area and closing above the level of 55.05.
NIO Forecast and Analysis for July 2021 assumes the development of a correction and a test of the support area near the level of 48.05. Where can we expect a rebound and an attempt to continue the rise of the pair to the area above the level of 62.05. A test of the trend line on the relative strength index (RSI) will be in favor of the growth of the currency pair. Cancellation of the option to raise NIO will be a fall and a breakdown of the level of 45.05. This will indicate a breakdown of support and a continued fall in value to the area below the level of 40.00.
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