Though NIO shares are down 31% year to date and have been in a downtrend for nine months, asstated on Tuesday, Nio stock sure seems like its gearing up for a reversal. As we wrote then: "[T]he price action between January 28 and March 15 demonstrated a lower low, but the Relative Strength Index over that same time period shows a gradual trend higher. Not always but often enough, a divergence between lows on the RSI and the pricementioned the importance of $21. That level is the pivot point.
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