$NIO TOP 20
Added 2023-10-30 10:51:47 +0000 UTCThe start of a new week and the start of a new month on Weds and it can't start quick enough!
Production numbers will be out on Weds too for the month of October and we need no surprises, $NIO can not afford to put a foot wrong from here.
$NIO hit the $7.38 line on Friday and bounced and has held above this line to finish the week, we can see since May that there is support along the area between $7 - $7.38.
Below $7.38 is the buy zone that we have had in place since the very start of this year, so we believe that if the price was to drop into this zone, it is offering substantial value.
Nice movement in the PM again today and we know that the market needs to show strength today for a number of reasons, so the bulls may start the week optimistic.
I am not looking for a miracle here, I want to see a show of strength and a signs of reversing, the first positive step will be breaking out of the wedge at $8 and staying above this level, this would be a good start.
As always, we will be here every day watching how this moves.
Comments
This is a good question, so always feel free to ask anyway.....I will look for support in the buy zone and then add, so I will not be rushing to buy the moment it enters the buyzone.
Gareth Neary
2023-10-30 11:10:39 +0000 UTCThank you Gar as always. Maybe it is just the same old question, but I am not sure so I ask anyway: in case it drops for bad news / missing numbers, is it worth it to add anyway once it enters the buy zone or will you wait for better numbers / a more stable situation?
Federico Salerno
2023-10-30 11:07:36 +0000 UTC
