$NIO TOP 20

UP 2.8% in the PM now after finishing up 5.6% on Friday.

Asian markets continue to perform very well this month and with the Korean markets decision to ban short selling now until to June 2024, this has lifted the markets there too.

Will this start attracting more activity to the Asian markets?....so far it looks like it will.

It is hard to believe but $NIO only dropped into the buy zone between Tuesday and Thursday last week by only $0.20c and the last time it did this was also for only a few days in June and then bounced hard.

The price is up nearly 20% since last Thursday now.

Comfortable wedge break out on Friday too and we have got above the 50 and 200 Day MA that we were watching on the 1hr chart. So now we will switch to the daily chart to see where the main levels to watch for now.

Two things I would like to see over the next few days, testing the 50 Day MA at $9 or a retest of the wedge line at $7.75 to show support, holding above this level is important to show its strength....I would be happy with both outcomes.

The best case scenario this week be would testing the 200 Day MA at $9.70 and then flipping this to support, this would put the bulls back in control and would have a lot of us breaking even soon then.

IF this is the start of Wave 3, then we are in the first wave bounce now, as we are still climbing this means that wave 1 is not complete yet so I won't draw any counts until I have at least 1 count in.....I am aware that anything I write on the $NIO chart is gospel so we want to make sure this is drawn as accurately as possible.

Please, no comments for the foreseeable about whether this is a good time to Buy $NIO, there has been many weeks to add and when the buy zone was entered last week.

My last two buys for $NIO were at $8.10 and $8.35 back at the end of Sept.