$NIO TOP 20
Added 2023-08-31 11:54:06 +0000 UTCI have added two charts, both are the same but on the 1hr chart and the daily chart.
I wanted to show the 50 Day MA on the 1hr chart, which is the main chart above and how it is effecting the share price.
The price is just being kept underneath this level and I think the Cup and Handle formation is the best way to show you how I expect this to move, as long as the 50 Day MA stays as the resistance level at $10.75
So let's not be surprised to see this slowly move down to finish this rounding off, possibly as low as the $8.98 level before starting to move higher as the market appreciates the lower price again.
Whatever happens, I will be adding around these levels, as again I am managing my average and this will contribute positively to my average, I am unconcerned of opinions and noise online, I am focused on their production numbers going forward.....August production numbers are due tomorrow and another 20k month will certainly reinforce the opinion that $NIO is on the right path.
I will be happy at any stage when this decides to reverse and it can if the market starts moving higher now too but I want us to be prepared for the worse case scenario and for me, that appears to be in moving down to around $9, at the 0.78 Fib.
Comments
I mean I’ve held this for around 3yrs so no point in backing out now 🤷🏻♂️
G
2023-08-31 23:09:15 +0000 UTCStick around the markets long enough, and you’ll be consistently stunned……
Blake O
2023-08-31 23:07:04 +0000 UTCI’d just be stunned if it turned around like that finally. This thing has been straight downhill for about 2yrs now. XPeng and Li essentially performed better.
G
2023-08-31 20:32:02 +0000 UTCLet's hope it will be at least above $20
Makis Dimakis
2023-08-31 20:29:21 +0000 UTCHis price target for NIO this year is 30$. He said it many times also on his Twitter account.
Makis Dimakis
2023-08-31 20:28:53 +0000 UTCAre you essentially predicting NIO will end around $30 by EOY? I pray it does so I can finally be in profit lol.
G
2023-08-31 20:26:10 +0000 UTC🤮🤮
Makis Dimakis
2023-08-31 17:16:25 +0000 UTCThis one just feels like constant guessing on where it goes. Baits people in to buy but then drops lower.
Bosher!
2023-08-31 13:54:00 +0000 UTChow would this be invalidated? by holding on $10.75 level?
Rafael Rocha
2023-08-31 13:01:47 +0000 UTCYep so the cup and handle formation is part of the wave, same way we see triangles and ascending triangles in wave counts too. These formations can help identify a bullish or bearish trend
Gareth Neary
2023-08-31 12:40:38 +0000 UTChmm 🤔... I mean, looks ok, but what makes you believe to expect a cup and handle formation now? Not that I doubt it will, just to learn why. And why it can't just be a 'normal' wave?
Bjoern Szymkowiak
2023-08-31 12:38:15 +0000 UTCThis downward move to wave 2 looks more like motive wave. Maybe, wave A of a zigzag.
Mukhammad
2023-08-31 12:03:07 +0000 UTC
