$NIO TOP 20
Added 2024-05-08 11:59:37 +0000 UTCRight back at the blue line now at $5.30 in the PM now, so nice movement so far, again its difficult to see this move on the daily chart but I want to use this chart to show where the 50 Day MA is right now, as it sits between the 0.38 Fib and the 0.5 Fib at $4.90.
So lets not be surprised to see a 3 wave move down to these lower Fib levels to test support
All we want to see is a test of support and holding anywhere above $4.53.....once we see that, we are happy.
Going below this level and weakness will start creeping in.....but as long as the HSI moves as we expect, it will likely carry the Chinese ADRs.
