$NIO TOP 20
Added 2024-11-04 11:32:39 +0000 UTC$NIO is still holding above the confluence level of the 200 Day MA and the 0.65 Fib above $5.05.
Price is up +2% in the PM now after rumours circulated that $NIO is considering a hybrid brand next year.....I am not completly against this idea....range anxiety is still an issue for many, especially here in Ireland because the infrastructure is still not in place to charge....or Batt Swap in $NIOs case....a hybrid model may bridge that gap.....it could also account for why $LI has overtaken $NIO in the domestic market (although it is not a premium brand)
$XPEV is also up +5.5% in the PM now and its chart continues to look a lot stronger than $NIO.
Again we want to see a break away from $5.05 here and see a series of higher highs and lows.....if there is a Fiscal announcement tomorrow or Weds morning in China.....I expect ADRs to bounce very well.
In the mean time, lets see if $NIO can get through today and tomorrow above this support level.
