$NIO TOP 20
Added 2023-10-09 11:26:27 +0000 UTCToday we were not expecting some volatility and a red start in the PM, catalysts like a conflict in the middle east can upset the market, until the market decides how this will affect the international climate.
Overall, I think there will be some short term volatility but overall, the market will continue up Wave 5 as normal, energy share prices will be affected in the short term but any increase in oil prices will have a delayed effect on companies bottom lines until next quarter.
I expect the market to open red but how it performs today will set the precedence for the week.
My plans do not change, if I can buy $AMZN below $120, add to $ABNB and to buy $AMD if it breaks out of the bull flag and retests the line from above then I will keep to the plan.
Back to $NIO, -1.5% in the PM now but having very little impact on the share price....an increase in oil prices may help the EV market too, as this is the second war that directly affects the price of oil (Ukriane - Russia being the first)....I remember in 2022, when the oil prices started to go higher in Ireland, I bought my first EV....I now have two. So this may accelerate consumer behaviour towards EV's further.
The PM price has also held above the 0.618 Fib too at $8.43.
If $NIO maintains this support today, it is a show of strength.
Comments
given the drop below .618 fib, do you see wave 2 simply coming down to .887? this seems like a never ending wave 2 given the fwd guidance and excellent q3. hoping margins improved in the quarter as they guided previously.
Ashwin Rao
2023-10-09 16:54:24 +0000 UTCNice work. Btw what EVs do you have and what’s your feedback?
faizan baig
2023-10-09 14:11:16 +0000 UTC
