$NIO TOP 20

Yesterday was a rollercoaster day and in the end, the price finished better than the initial reading in the PM before the fake news report and nonsense came in.

Effectively we got a bounce on the 0.887 Fib yesterday and this is the first test of support, because this is an important Fib level, we want to see a retest of this support as confirmation that this is a secure support level....the PM is showing that this will likely be tested again at the opening.

I have added in the Anchored VWAP to today's chart and that is taken from all the way back in 2020, to the all time low in the $1's.....and is anyone surprised to see that the bottom of the VWAP range is exactly on the $7.38 Blue line, which is the start of the Buy Zone. I have just done this as an exercise because I know there are many who use VWAP to see the possible range of a share price....note that the highest limit of the VWAP goes all the way up to $40.40.

So what we want to see today is a retest of the 0.887 Fib line and holding.

I am not saying it will hold and I am not saying that it will come all the way down to $8, what I am saying is, this is what we want to see!!!

The share price will do what it wants ultimately.

Someone made a statement yesterday that EW Theory does not work on $NIO, I wonder where these guys were when EW Theory was used to find the Buy zone, also used to find 120% gain from the Buy Zone and those that were here as it climbed up in July and we sent a buy alert at $10.40 and it jumped 60%.

We also made a decision to not sell $NIO regardless of any pull back and decided to add only instead of selling because $NIO can be more volatile than others, so we adopted the strategy of managing our average instead.

You either have a strategy or you don't, a lot of times it works for you but not having one will have you rudderless.