$NIO TOP 20
Added 2024-05-24 08:49:45 +0000 UTC$NIO flushed down to the 50 Day MA yesterday below $4.81 to finish the day at this level.
It was aways a possibility and the EV sector, along with every sector had a difficult day yesterday.
That being said, for this pull back to be a Subwave 2 pull back, the 0.618 Fib is the standard pull back level at $4.53
Anything lower than this level means there is weakness.
Losing this level and you can't rule out the previous low again.
$LI is of interest to us I believe, it is struggling to find support and has been a strong performing company in the sector, so if there is weakness there, it will likely mean weakness for $NIO too in the short term.
