$NIO TOP 20
Added 2023-10-27 10:43:30 +0000 UTCA well needed green PM across the board right now.
Something the market has not been familiar with for the last 10 Days.
$AMZN and $INTC being the main drivers behind this green PM I believe, both of them reporting impressive earnings yesterday.
We will still behave cautiously for now with regard the direction of the market, a PM does not tell the full story, a strong finish to the week will be encouraging going into next week and a new month starting on Weds, its safe to say that we would all like to see the back of October now (August and Sept too)
Daily chart here for $NIO, so I can show the RSI hidden divergence. Which means as the share price has been decreasing since the middle of Sept, the RSI has been moving slowing in a small uptrend.....this indication is suppose to show that sellers have started to dry up and there is some optimism from potential buyers at this oversold territory.
I do not believe buyers have stepped in yet but I do believe that bulls have been saving this from making a new low at $7, we want them to continue to do this.
Same plan as yesterday, we want to see this break out of this wedge and get above $8.15 and hold above this level, this would see a break of the trend since early Sept.
