NIO Breakout

NIO breakout. Breaking through a downward trendline(blue) and bouncing through a 23.6% fib retracement (red zone) on the weekly chart. Ichimoku lagging (white) in bullish position. Moving average crossover (blue and red line) in bullish position. 20 period moving average (yellow) in bullish position. Ichimoku cloud offering support with the 23.6% fib line.

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Closed 46.03

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Correction, yellow line is 200 period MA

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Additional support can be found in the bull trend line (not on chart)

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Trade started out great then pulled back down. Need to monitor RSI in the future to find an exit point.