$NIO TOP 20
Added 2023-12-29 14:27:38 +0000 UTC$NIO held very well yesterday and never seemed to threaten losing the the 200 Day MA at $9.17.
It looks like the Gap fill is the main objective here for the market and I am observing the early stage of an ascending triangle formation, which is typically found in Wave 5's too.
This is good, meaning we are in Wave 5 as expected and there is still more upside before the ABC correction next (the healthy pull back)
The 0.5 Fib from $7.02 to $10.31 is at $8.66 which is exactly the Second Target level, so this is where we could see the ABC correction pulling back to once Wave 5 is complete
I won't be playing $NIO by selling and rebuying lower, masses jumping in soon may push this beyond $10.31 so it is not a game I want to play.
My only plan is that if the price comes back to $8.66 after Wave 5 is complete, I will add one more time, otherwise, I am happy to let this run.
I am also 3% away from being profitable here, nice end to the year.
Comments
Yeah, I got punked on a $8.89 stop loss the other day. It his my stop loss to the penny and made me buy back higher. I don’t know when I will learn how to use stop losses on a long position. I just want more shares if there were to be a descent into the 7s again.
iTurp
2023-12-29 17:28:29 +0000 UTCThe sooner we get it out of the way the better….but will take more than just 1 day
Gareth Neary
2023-12-29 16:16:09 +0000 UTCCan we just consider today as the abc correction 😂🙏🏽😅
Saad A
2023-12-29 16:11:08 +0000 UTC
