The Long Investor

$NIO TOP 20 - ALTERNATE VIEW

Added 2024-10-03 12:12:57 +0000 UTC

I have just uploaded the regular $NIO chart just now but I always cross check my work on other charts to see if I have missed something and there is one clear observation that I have found

Firstly I said on the original chart to watch for support anywhere from the 0.38 Fib at $6.15, this is still in place regardless of both charts, this the main point here.

But look at where the larger Wave 3 finished at on Monday, it hit the top channel trend line and the 1.618 Fib at $7.67 exactly

So this is can be seen as a perfect Wave 3, so in this view, the pull back now is only Wave 4 and the 0.38 Fib at $6.15 is the target before going higher to complete Wave 5 at $10.

I see Paul on X who is also a strict EW Theorist is following my original chart too but we need to be open to this possibility above here

I don't want us to miss this.

Overall, the main point is that this is moving in an impulse wave, which is bullish and what we want as holders

But if we get a hold on the 0.38 Fib at $6.15 then we just completed a larger Wave 4 and should enter to catch the run up to $10.....this is in line with $BABA too.