The Long Investor

$NIO TOP 20

Added 2024-02-14 12:23:23 +0000 UTC

The EV sector did not need that reaction yesterday to a higher than expected Inflation figure....the market decided that since EV's are considered a luxury good and a new purchase, high interest rates will delay people upgrading their car and postpone until rates come down....the sector reacted accordingly.

$NIO is bouncing back in the PM now and it needs to, it needs to get back above $6, to salvage the hard work it had done last week and on Monday.

The 50 Dma on the 1hr was lost yesterday but recaptured so far, until we can see some real support, we need to be open to both possibilities right now....that the price can drift down this wedge still or reverse.

My shares continue to sit on my shelf, not adding anymore and not selling.