$NIO TOP 20
Added 2024-02-07 20:38:22 +0000 UTC$NIO after jumping 12.5% yesterday is now down -2.5% as a cool off.....I am ok with that as profit takers take something off the table and it is not excessive, considering the Chinese ADRs are suffering today due to some relief and $BABA's reaction.
$6 is still the psychological level that needs to be flipped to support next, having stopped out at exactly $6 today.
It may be difficult to believe but the set up here is not technically bearish...the defined pattern is a clear descending wedge, so a breakout here is a big change to the trend....so the buy zone is still the area to work through up to $7 - $7.38
$7 was a strong support level for months towards the end of 2023.....this is where we need to be flipped....this would also be a breakout of the wedge too.
Like always, we'll stick with this and keep our nerve....you are being tested here.
Comments
i would like my stocks to go up only ๐๐ i think the same craig, made a line at 4.7 for support.
Daniel
2024-02-08 16:14:25 +0000 UTCgap ~ 4.75
Labo
2024-02-08 12:23:39 +0000 UTCStop looking below. Focus on top. ๐ stock only goes down if you want it to. ๐
Stephanie
2024-02-08 00:19:15 +0000 UTCwhere is the next support level in case it goes below 5.4$?
Daniel
2024-02-07 21:21:30 +0000 UTC
