The Long Investor

$NIO TOP 20

Added 2024-01-31 16:08:29 +0000 UTC

There was definitely a fast flush at the opening for $NIO, possibly a stop loss raid for people who left a very obvious stop loss at the nice round number of $5.50 which just happens to be the yellow trend line support.

I hope nobody in our group was caught doing this.

It has recovered since this after hitting $5.43, cents away from our $5.50 target.

This is of course not where we wanted to be but you play the cards you are dealt.

Production numbers tomorrow can be a positive catalyst but I think a sideways movement here until earnings is probably likely.

Price action below $5.50 does not make sense fundamentally, this is not a $MULN or even $FSR, they have a lot of cash and completing a factory build that can produce a million cars a year.

This is not a mickey mouse company and the Chinese Govt will not let them fail.....we are in a storm now and this is going to be a battle for you......you need to ride the waves.