$NIO TOP 20
Added 2023-10-23 08:29:03 +0000 UTCMorning everyone and I hope everyone had a chance to review the Top 20 list yesterday evening so we are prepared for the potential week ahead.
$NIO had been holding for the majority of the day on Friday but started to move down with the market weakness towards the close.
We are starting to get close to the business end here at the blue line, between $7 - $7.38 we have held and bounced here in May and June, we would like to see this again.
RSI is again at 30 now, where it was exactly in May too.
I believe the conditions in the market are more delicate now then they were in May unfortunately but there is still every possibility that this can bounce between the blue lines, if it does not then we are into the buy zone and will likely be uncomfortable until $NIO can get back on track with sales and production numbers.
I will add in the buy zone again.
Comments
whats interesting is we haven't gotten a relief bounce, usually in the past there are a few of those. I also don't understand the production concern. Quarter over quarter and year over year has been MASSIVE growth but people/market always seem to be concerned with the latest week. Nio has always fluctuated weekly/monthly, not sure why now its a huge problem. anyways, just here for the crazy ride. not selling for 5 years
ES B
2023-10-23 14:15:00 +0000 UTCThe conflict is indeed screwing things up and further escalation (which seems likely) will make it worse.
Anthony
2023-10-23 13:27:49 +0000 UTCIt is certainly possible
Gareth Neary
2023-10-23 13:08:31 +0000 UTCI'm calling it early, below $7 we go. The market is just relentless selling. Nothing against Cap's chart but the Middle East conflict is screwing everything up.
Steve Suric
2023-10-23 10:20:31 +0000 UTC
