$NIO TOP 20
Added 2024-04-29 09:47:42 +0000 UTC$NIO is up over +20% now since bouncing on the bottom line of the wedge and since then the price has broken above the 20 Day MA which was also at the upper wedge limit.
The obvious test next would be the 50 Day MA just above at $5.
The price action did break above this moving average in December but on the retest the price did not hold so a break above $5 and retesting this moving average and holding from above will be pivotal now....it will also be a signal to buy. Especially for those who sold out of $NIO but have been waiting to get back in at a good price.
Above the 50 Day MA will be the supply zone between $5.80 and $7 but we will deal with these levels at the time.
HSI continues to move strong this week too and a lot of the Chinese ADRs were waiting for the HSI to turn bullish and when it did they followed which is what we have been waiting for for some time.
