The Long Investor

$NIO TOP 20

Added 2023-11-29 12:55:44 +0000 UTC

Yesterday was almost judgement day for $NIO, a battle took place and sellers tried their best to bring this down to $7 and break that low support but remarkably the bulls stepped in and won the battle.

Something we have rarely seen lately for $NIO.

I uploaded this 5 min time frame yesterday during the day to show that IF the bottom came in, as a double bottom at $7.02, we would be looking at the 0.618 Fib at $7.11 for support and then a bounce.

The price has hit $7.11 exactly in the PM now, so lets see how it handles this level now.

We are certainly on a knife edge here and it would not take a lot to bring this back down to test $7 again

Positive news dropped today about $NIOs battery partnership with Geely, this is a positive development so lets see how the market reacts at the opening.

Also we have November production numbers due out on Friday to look forward to.