$NIO TOP 20
Added 2024-03-08 11:22:55 +0000 UTCYesterday showed the first sign of a trend change, after the pull back from Weds, there was a hold on the 50 MA on the 1hr chart and the price finished the day just testing the 200 MA at $5.77
The significance is that a higher low was found and there is a continuous test of this 200 MA, possibly weakening the resistance at each test.
I believe it will still come down to how the HSI behaves and it still hasn't broken out of its channel but it is also testing its limits again.
For me, a breakout of $5.77 and holding above this level is a big move for the bulls and it is something that the bulls have not been able to do in 2024, achieving this will certainly look like a reversal.
Comments
I F* up hard with buying $COST going into earnings, damn was promising and making its was gaining early in the trading day.
Charles D
2024-03-08 22:33:24 +0000 UTCVery silly on my part, I need to be more cautious. I need to chill out, I chased and fell.
Charles D
2024-03-08 11:54:18 +0000 UTCCharles I am not sure why you went heavy into $COST when it was showing it had reached its Wave 5 limit and my commentary explained a rejection is likely to come next. I think it continues to pull back from here
Gareth Neary
2024-03-08 11:29:08 +0000 UTCLet's go NIO BULLS! I went heavy into COSTCO before the earning, I was expecting a beat, membership price increase or stock split and was going to put the extra money into $NIO... of course $COST is down. Maybe a recovery today.
Charles D
2024-03-08 11:27:36 +0000 UTC
