$NIO TOP 20
Added 2024-01-08 11:10:29 +0000 UTCPrice is at the 0.65 Fib now in the PM at $7.91 exactly, just slightly below our hard $8 support line, which is our 0.618 Fib and First Target too, so the price action is showing some weakness now.
There is red in the US market and there is red in the Hang Seng market.
$NIO is not the only red stock today, there is weakness across the markets and only small amounts of green so far, so please do not get fixated on this and feel that $NIO is being singled out.
$7.56 is the next potential support line that we will be looking at if the 0.65 Fib is not held.
We need $NIO to find a higher low from the $7.02 it posted on the 13th of December.
I do not expect the $7 level to be broken after it was defended very well between November and December.
