$NIO TOP 20
Added 2024-11-07 18:32:28 +0000 UTCThis is the 1 hr chart so we can see in the detail the descending wedge....we know on the daily chart that $NIO continues to hold on the 200 Day MA and the confluence level above $5.
$NIO is holding strength like all of the ADRs today and they are all aligned right now....with the very obvious observation that they are all expecting news imminently....we know this to be a potential Fiscal package
The descending wedge here is a bullish formation and we are seeing some signs of breaking out and testing the important support line on $5.32.
If $NIO moves with the Chinese market then I expect Wave 3 next above $11.
For now...we wait.
