The chinese EV (electronic vehicle) manufacturer NIO broke out of its balanced behavior on the daily periodicity which occured for several days above the major HTF EMAs and explores new highs anlongside TSLA.
Macro perspective framing higher as well. Weekly with previous outside bar followed by change in the market context towards a balanced behavior with several inside weeks broke out above that rotational price range. Quarterly and monthly perspective one-time-framing higher to discover new higher prices.
Quite optimistic viewpoints out there. Pullback towards the prior bracket high or mean to find new buying activity probable. Could be confluent of a test with the EMA50 as well. We’ll see.
Here the current Quarterly balance sheet of NIO:
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