$NIO TOP 20
Added 2024-01-19 19:00:24 +0000 UTCLost the red support line at the opening quite violently and has struggled to find much momentum today too.
$NIO has also gone within $0.03c of reaching the bottom limit of our Buy Zone at $5.83 which has been in place since October 2022.
This is somewhere we never wanted to be, although this was considered the nuclear option to be here.....in spite of $NIO's short comings during 2023, I do not believe it has any right to be down at these levels.
Yes the sector is getting killed at the moment, led by $TSLA but we are in the storm now and it is our job to navigate through this in tact.
The best course of action is simply to do nothing right now I believe.
$NIO is sitting on the shelf for me and I am unfazed by its red performance, I have not forgotten the long list of positive developments since December and I am focusing on just watching their earnings and sales increase, that is what I have always cared about and that is what I will continue to focus on.
Comments
Thanks Cap! Appreciate the response.
Beni
2024-01-22 13:50:19 +0000 UTCWe need to see where support is found and find if it consolidates sideways first before moving higher
Gareth Neary
2024-01-22 13:46:21 +0000 UTCHi Gary. A technical question for you. Once the structure breaks down. Ie wave 2 extending beyond wave 1 and the count become invalid. When do we commence the count again? At the lowest low?
Beni
2024-01-22 11:19:46 +0000 UTCWW3, Invasion of Taiwan, Bankruptcy- all factored into Nio's price. What the market isn't factoring in is the USA's $38 trillion in debt and 70% of people live paycheck to paycheck. It's all a house of cards
ES B
2024-01-19 19:23:58 +0000 UTCNot much else to do until support is shown I guess. Are you still in FSR? Same applies I presume.
Steve Cullip
2024-01-19 19:11:29 +0000 UTC
