The Long Investor

$NIO TOP 20

Added 2024-06-03 11:33:24 +0000 UTC

Positive start in the PM for $NIO after the market digests the +20k figures reported on Saturday for the month of May

Coupled with the positive hold of support by the HSI

The plan remains the same here, after holding on the 0.5 Fib and the 50 Day MA, we want to see a higher high next to show that the trend is moving to the upside and in an impulse manner.

So far I am happy the movement is as we expect and this is why I have added the impulse wave last week.

The big variable here is that earnings will be out before the market opens on Thursday

It goes without saying that we need absolutely no surprises or concerns and they report an earnings that is a beat or in line with expectations

This is something we have no control over and need to be prepared for a breakdown if they do not hit their targets.

So the impulse wave staying valid will definitely depend on how they report their earnings