The Long Investor

$NIO TOP 20

Added 2023-10-31 11:48:47 +0000 UTC

Registration numbers came in today:

$LI Act. 10000 Est. 9500-9800

$XPEV Act. 5800 Est. 5200-5500

$NIO Act. 4600 Est.5000-5300

$TSLA Act. 10800

$BYDDY Act. 51800

(Sources taken from Jason Yu on X.)

$NIO continues to sit in third place and it looks like $XPEV is starting to pull away and beat on estimates too, $NIO has improved on last week by 200 however.

Delivery numbers for October will be out tomorrow which will differ from these registration numbers each week.

$NIO is down in the PM now but not as much as $XPEV and $LI but $TSLA continues to show weakness both yesterday in the market and today in the PM, giving concern that sales of EVs may be struggling worldwide.

$F and $GM are also getting crushed too, it does not appear that any manufacturer (both EV and ICE) are doing considerable well, $BYD is also down nearly -40% from its ATH.

There is no denying here on the chart that the wedge direction is leading right down to $7 again, as the 50 Day MA continues to be a firm resistance level on the 1hr chart. Until we can get above this level and the wedge, we will continue to drift in this direction.