The Long Investor

$NIO TOP 20

Added 2024-10-01 10:25:34 +0000 UTC

$NIO opened up +19% yesterday, we asked for calm and not to chase, the price then faded throughout the day and finished at +2% to end the day, a lot of people including myself were happy to see this, we don't want $NIO going anymore extended then it already is

HSI was closed today and the Chinese market is closed for the rest of the week, this may bring further calm and a further pull back

I have added the amber pull back levels of this is the start of the ABC pull back

As I said yesterday in the chat group, the 0.618 Fib is right beside the blue line and we can see the 200 Day MA is moving up to this level too, making this an attractive level to pull back to and add if we get a hold here, anywhere below the 0.5 Fib at $5.67 should have our attention.

I don't have to remind everyone about what happened last year, we waited for a pull back, it did come but it never held, we got caught out not being disciplined and did not wait for a strong hold of support

We won't let that happen again.