This has been a big test for $NIO today, a lot of selling across all classes and sectors and $NIO has barely moved and remains relatively flat, above the important confluence level.
Even $BABA has overshot its $100 support level
Further test coming up later after $TSLA reports, we would like very little correlation between the two but we know there is plenty.
If $TSLA beat positively, then I believe the market will react well and the EV sector too.
Losing the confluence level and the 0.78 Fib level is next at $4.50