Investing.com investing.com 31 Dec, 2020 17:30 am

Chart Of The Day: Nio Shares Driven Higher As Apple Partnership Rumors Build

Chart Of The Day: Nio Shares Driven Higher As Apple Partnership Rumors Build
Stocks Analysis by Investing.com (Pinchas Cohen/Investing.com) covering: Apple Inc, Tesla Inc, Volkswagen 10 AG Pref ADR, Nio Inc Class A ADR. Read Investing.com (Pinchas Cohen/Investing.com)'s latest article on Investing.com

Conservative traders would wait before going long, for the breakout penetration to close above $50, then complete a return move that verifies the pattern’s integrity.Moderate traders would either wait for the triangle breakout or await a return move that finds support by the flag before going long.Shares of Chinese electric vehicle manufacturer Nio (NYSE: NIO ) have been gaining traction.That's now the implied move from the flag’s breakout point of $46 to the $56 target.

The completed flag’s implied target of $56 certainly says the price will also complete the triangle.While the breakout volume rose relative to that of the flag's support, it didn’t quite spike in an obvious manner, as it did on Dec.

Read full story at investing.com