The Long Investor

$NIO TOP 20

Added 2023-12-26 13:45:16 +0000 UTC

$NIO day was a success, for design, tech and infrastructure and they made a significant impression on the global EV market with the ET9.

I am particularly interested in how the market digests the inhouse chips they are developing that are on pair with $NVDA's processing chips for autonomous driving.....$NIO could be a market seller of these chips if what they have said is correct.

This is yet another revenue stream that $NIO can generate, on top of their Battery Swap network.

$NIO needed to produce a Maybach or Porshe Panamera alternative to show the world that Chinese manufacturers can make a develop the highest quality vehicles, they need to be seen as a country that doesn't make cheap knock off's and kid toys, but can produce higher quality vehicles compared to anywhere else in the world, particularly Germany.

I see the vision here and what they are doing and that is why I believe they announced the ET9 before the ALPs low cost vehicle, to show that they can produce quality at low cost prices.

Chart wise, when $NIO held the First Target perfectly at the 50 Day MA at $8, we believed this could go higher comfortably to the Second Target again, it has so far gone above this level and testing the previous high at $8.90 in the PM, a break above this level and $9.15 is the next test for me at the 1.618 Fib.

Very important to note: the 200 Day MA on the daily chart is ALSO at the 1.618 Fib at $9.15, making this an EXTREMELY important level, if the bulls can flip this level to support....the reversal is on.

The bulls are in control here and need to hold on to it.