The Long Investor

$NIO TOP 20

Added 2023-12-18 17:39:32 +0000 UTC

I am just adding what I am observing here, $7 level has held twice now, with both attempts at $7 showing strong support at this level, so we can consider that $7 is a fortress and a double bottom pattern is likely here.

Above is a conservative projection for the next 10 months and we will not use dates to project where a share price will go to over a standard period of time, this is an observation.

We can see at the bottom of the screen that it took 340 Days for the share price to decline from $24 down to $7, so with this same metric, it would take until November to climb back up to $24 if it followed the same trajectory down.

That being said, we saw how rapidly $NIO climbed in June from $7 to $16, this cannot be ruled out happening again either.

But it is good for our members to be aware of the pattern that has formed here now.

If $NIO went from here to $24 in the next 10-11 months, I would be very happy and will have made a small fortune.

As ALWAYS, it will all depend on $NIO selling cars and continuing to improve on their earnings.....which I believed failed us in August and Sept and why $NIO could not continue its momentum after hitting $16, the Q2 earnings in Sept were simply awful and knocked us back considerably.

Q3 earnings were substantially better and back on track.

Getting above the 200 Day MA at $9.21 will be a pivotal moment and may indicate the worst is behind us.