$NIO TOP 20
Added 2023-08-16 12:12:06 +0000 UTC$NIO continues to be controlled by this strict downward channel and any attempts to hold support is dropping in each PM and this then controls the direction for the day, this has happened 6 times now throughout this pull back.
First big test will be the 50 Day MA on the daily chart at $10.90 right now.
The second test for support is the 200 Day MA on the daily chart at $10.20 now.
Anything lower than $10.20 and the count is invalidated in its current set up.
The best case scenario is that this entire pull back is its corrective wave, which we had planning after Wave 5 on our chart and it has come early now instead....this would be a big benefit to us if this is the case, meaning the corrective wave has come in a lot sooner and we will start Wave 3 sooner.....the 2020 $NIO chart I uploaded 2 days ago would correlate with this aswell, as we saw in 2020 that Wave 2 for $NIO pulled back to $10.64 and then entered Wave 3.
My plan is to add the moment I see support confirmed, at the 50 day or 200 Day MA, I am committed to $NIO and have no issues adding to my average at these levels.
$NIO is not for short term.
Comments
What concern me is NIO still haven’t make profit.
Stephanie
2023-08-17 07:01:29 +0000 UTCThis has been a bloodbath. Interesting to see if we hit the buy zone again.
Greg Buchanan
2023-08-16 13:28:01 +0000 UTCI honestly didn't think we could get to these levels, get to $16 and then retrace so much it's very stressful, let's hope wave 3 starts soon
Vittorio
2023-08-16 13:22:41 +0000 UTCAgree with you - this is for long term and those who can persevere through the pullbacks and corrective waves will get to enjoy the rewards!
CWT7
2023-08-16 12:40:26 +0000 UTCThat will be 61.8% retracement so wave 2 will be done .we ready for fireworks wave 3 n probably to $30 EOY target
bill
2023-08-16 12:23:45 +0000 UTCExcellent work captain!
Yuri van Huisstede
2023-08-16 12:13:10 +0000 UTC
