$NIO TOP 20
Added 2024-07-30 14:52:35 +0000 UTC$NIO still in this strict channel and above its June low but the trend is down to this level again on the 0.78 Fib at $4.13.
It goes without saying that we don't want a lower low to come in but there is very little that can be done if bulls do not step in and hold support levels, missed earnings in June is likely not helping either.
I have not bought $NIO in months and don't intend to either while this set up continues but I will hold it throughout any movement down.
Comments
This stock is my high conviction stock. Anyone who saw the NIO IN event a few days ago knows what this company is up to, but the stock is still incredibly frustrating. It's unbelievable that it's trading at these levels and most likely will continue to do so until we see rate cuts and a path to profitability that is convincing to the institutions.
Thomas
2024-07-30 15:01:59 +0000 UTCWhen a stock you've held for a long time isn't panning out as hoped, do you have a specific % loss where you walk away?
swan786
2024-07-30 15:01:42 +0000 UTC
