$NIO TOP 20
Added 2023-12-04 16:34:10 +0000 UTCAnother day where the market is relatively red and $NIO has been holding green, the chart is showing a very tight wedge now leading into earnings tomorrow, the report will be out before the market opens, so any speculative buys or sells will happen today....there were more rumours circulating last night that $NIO was about to drop something before their earnings and only snippets have been dropped so far: '$NIO is starting to review a blockbuster model'....so this does not tell us a lot, I would like to know more.
I am showing the relative move here if $NIO breaks out of the wedge and holds above the wedge line at $7.30, this is the resistance level right now and if the price can hold above out blue line at $7.38, there is a strong possibility that the price can move up to our First and Second Targets.
The bearish case: if there is a wedge break down, so a new low below $7...then $NIO can move down to the low $6's and try and find support on the lower trend line.
Earnings I am not expecting a lot from, I do not want any surprises and I want to see an improvement on their previous earnings or at the very least, earnings meet expectations....this could be enough to trigger buyers if there is no surprises.
