The Long Investor

$NIO TOP 20

Added 2023-11-10 11:55:40 +0000 UTC

Red day for the market, extra red day for EV's and tough day for $NIO yesterday.

That being said, 5 waves up, followed by 3 waves down is clear here.

The price action since breaking out of the wedge has strictly followed the Fib levels, holding at the 0.618 First, bouncing to the 0.38 Fib and then pulling back now to the 0.78 Fib and staying above the trend line.

There is no margin for error here, if the wedge is not held, we are back into the buy zone and likely testing the low again at $7.

We are all invested in $NIO and I think the vast majority of investors are holding for long term, so it is probably for the best if many start to focus on other stocks and not just $NIO. This is easier said than done but $NIO accounts for 16% of my portfolio, which is high enough but there is still 84% of my portfolio that needs more attention than this and I think this goes for a lot of people too.

I am focusing on adding to my existing stocks over the next few weeks, $AMZN, $AMD, $ABNB and $PYPL being my main targets.