$NIO TOP 20
Added 2023-11-15 12:54:45 +0000 UTC$NIO started the day off in the PM in the red and when CPI came in under estimates, it got swept into the wave of optimism and finished the day up around 5%.
Chinese ADRs generally had a good day too with Xi touching down in San Fran for a welcoming meeting between US dignitaries who have not been in much agreement for the year.
$JD has reported this morning too and it was a double beat and $BABA is expected to report before the opening tomorrow.
$XPEV reported their earnings this morning and it was a mixed report....with earnings beating but revenue down with wider losses. $XPEV is now -1% in the PM.
$NIO has still not confirmed its earnings date for this season which to me is looking very odd at this stage and maybe they are waiting for some details but I won't speculate.
On the chart, we can see that the top yellow line is mimicking the 200 Day MA so both of these indicators will be important to watch....the price is just around the 50 Day MA on the 1hr chart.....I think we all know at this stage that $NIO needs to get above $8 to show real signs of reversing and breaking this downward trend.
The earnings will be an important variable to watch for.
