Nio stock price forecast as a rare bearish chart pattern emerges — TradingView News
Nio stock price remains in a deep bear market this year after falling by ~40% from its highest point this year. It has slumped to $4.86, erasing billions of dollars in value. A closer look shows that it is about to form a risky chart pattern, pointing to further downside.
Nio stock price forecast as risky patterns form
The daily chart reveals that the Nio share price has slumped from a high of $8 in October to the current $4.86. It is about to form a death cross pattern as the spread between the 50-day and 200-day Exponential Moving Averages (EMA) has narrowed.
Nio has remained below the Supertrend indicator, a sign that bears remain in control today. Additionally, it continues to form a bearish flag pattern, a common continuation sign….
