The Long Investor

$NIO TOP 20

Added 2023-09-15 12:28:25 +0000 UTC

$NIO continues to work its way through this Cup formation and had a comfortable day yesterday, we can see that $NIO is up nearly 3% in th PM now, I still expect $NIO to trade within the range as shown and what in the range we have been experiencing but a bounce is still well over due.....however we want to see a bounce for Wave 3 next.

PM is looking good so the next level to watch on the 1hr chart is the 200 Day MA at $11.42, as the price is already above the 50 Day MA now which is bullish.

Whatever is keeping $NIO in this sideways movement we can not explain but the bulls have not been buying either....with the possibility that they are waiting to buy if it goes lower instead, which is what we are waiting for too.

I expect that as the price starts to move higher, buyers will step in but we need to start seeing signs of reversing soon for that to happen.

As always, if $NIO hits $9, I will be adding.