$NIO TOP 20
Added 2024-11-20 12:17:35 +0000 UTCOn the chart you would never tell that they have just released their earnings report his morning, as the PM price (although swinging between red and green) is still at the 0.78 Fib at $4.50....while the market digests the information.
I shared the report in the Research Information chat group and it was a mixed bag but a lot of positives too....particularly on margins, flattening net losses and an increased guidance, the red mark is a decrease in revenue but for me, a positive FCF counters this.
What we need to weigh up now is whether this mixed earnings is factored in....which is what needs to be assessed with $BABA too....both earnings were not bad enough to merit prices at these levels
So I would still expect some movement to the upside going forward....what is uncertain is when support will be confirmed.
$4.50 can hold today but we can not rule out a test of the next Fib at $4.08
I have not seen anything today that would make me change my position in $NIO and I will continue to hold.
