Nio to Make New Lows? We look to Sell a break of 27.53 (stop at 29.42)
NIO - Short Term - We look to Sell a break of 27.53 (stop at 29.42)
The primary trend remains bearish . Bespoke support is located at 28.00. A move through 27.50 will confirm the bearish momentum. Closed below the 20-day EMA . Further downside is expected and we prefer to set shorts in early trade.
Our profit targets will be 22.82 and 21.10
Resistance: 30.00 / 35.00 / 40.00
Support: 28.00 / 25.00 / 20.00
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