$NIO TOP 20
Added 2024-12-10 15:15:13 +0000 UTC$NIO bounced up to the blue line yesterday at $5.32, which was also the 50 Day MA and found resistance.
We can see that it has pulled back to the 200 MA on the 1hr chart now for a test of support, along with the other Chinese ADRs.
Retesting levels from above is something we always want to see but $NIO needs to start holding the levels now before it can make another attempt at flipping the $5.32 level to a firm support
Only above this level can we consider the risk reduced and a reversal is on.
