NIO quotes continue to move as part of the fall and the downward channel. Moving averages indicate a short-term bearish trend for NIO. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of securities and a potential continuation of the fall. At the time of publication of the forecast, the value of the shares is 19.86. As part of the forecast, we should expect an attempt to develop a correction and test the resistance level near the area of 24.35. Further, a rebound and continued fall in the value of securities. The potential target of such a movement is the area below the level of 10.55.
NIO Forecast and Analysis March 8, 2022
An additional signal in favor of falling NIO quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling NIO stock quotes will be a strong growth and a breakdown of the level of 34.05. This will indicate a breakdown of the resistance area and a continuation of the rise to the area at the level of 45.05. It is worth expecting an acceleration in the fall of shares with a breakdown of the support area and closing below the level of 16.05.
NIO Forecast and Analysis March 8, 2022 suggests the development of a correction and a test of the resistance area near the level of 24.35. Where should we expect a rebound and an attempt to continue the fall of the pair to the area below the level of 10.55. In favor of the fall of the currency pair, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the NIO reduction option will be a strong growth and a breakdown of the level of 34.05. This will indicate a breakdown of resistance and a continuation of the rise in value to the area above the level of 45.05.
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