$NIO tested the top of the yellow channel this week, where the 50 Day MA was waiting and has so far rejected after a sell off yesterday, moving comfortably in the PM today so there is no lower low yet however, so there may be another attempt at this channel level again and 50 Day MA at $4.30
Bulls need to get above this level and most importantly, hold on the retest, which it was not able to do at the start of June
A holding above the 50 Day MA would attract me to add.....but with other opportunities available right now, I am in no rush to add to my position here.
Gareth Neary
2024-08-21 11:46:51 +0000 UTCWallyN π·π΄
2024-08-21 11:31:07 +0000 UTC