$NIO TOP 20
Added 2023-09-22 10:10:54 +0000 UTCYesterday's market conditions were as tough as you'll get, across the board, even defensive stocks were selling.....and I believe $1 Trillion was wiped from the market this week too.
These events are not that common but it is how you respond to them is the most important part. If you managed to not sell or panic, meaning you are happy with the stocks you are holding and your vision is to hold for long term, then you are on the right path.
I have not seen a single member say that they have sold $NIO this week and I am happy for this.
Chinese ADRs are performing very well this morning on the strength of recovery hopes in China and further measures to help the private economy, Chinese policy makers are also looking for ways to ease investing rules for foreign investors too.
There is no denying that there is value on the table now for a lot of Chinese stocks, it is about confidence now, attracting funds back and the right political setting.....ultimately the market will hunt value and when it is too great to ignore, the market will find it and buy.
$NIO is stuck between the 0.78 Fib and the 0.88 Fib ($8.97 - $8.04)....with the price going as low as $8.35 yesterday, this is a perfectly acceptable level to go down to and show that support was found around the 0.88 Fib level, if it is going to recover now, the records will show that $NIO found support at a Fib level.
That being said, let's see what happens when the market opens and if the PM can follow through at the opening.
We want to see a series of higher highs and higher lows next to say that the bottom is in.
Comments
You have summoned it up perfectly, until we see signs of reversing, $8.04 is still possible, especially with the week we will have ahead
Gareth Neary
2023-09-23 18:10:59 +0000 UTCNIO hasn’t seen a higher high and higher low just yet. Does it look to be looking for lower low for support at $8.04 as your next level of support?
Stephanie
2023-09-23 18:08:24 +0000 UTCI don’t think $NIO or most stocks are manipulated, people use the word manipulated instead of understanding how charts behave
Gareth Neary
2023-09-22 16:30:47 +0000 UTCdo you feel NIO is highly manipulated (not sure really what that means or if its really a thing)? If so, what is the reason behind this?
ES B
2023-09-22 16:27:11 +0000 UTC
