$NIO TOP 20
Added 2024-12-04 12:58:00 +0000 UTC$NIO a lot of talk about wedge breakouts yesterday but at all times we must be vigilant with $NIO
We have a hold on the 0.78 Fib at $4.50, that is what we have so far
We do not have a higher high yet, to achieve this the price must get above the 200 Day MA at $4.95.
Converting this level to support and the 50 Day MA is the next target, which will likely align with the blue line at $5.32.
For me, getting above $5.32 which has been a support/resistance line for over 18 months will be significant but not until then.
We do not want to see any rejections now
Comments
No Steven and please review the course in the learning centre. An impulse wave can only be invalidated once a lower low is made, the low is $3.61 from Sept, it is nowhere near that and in fact holding at standard levels for a Wave 2 pull back The set up is looking incredibly good as an impulse wave
Gareth Neary
2024-12-04 13:23:34 +0000 UTCIs the impulse wave invalidated? A whle back you said that was the case when it went below 7.
Steven
2024-12-04 13:18:04 +0000 UTC
