$NIO was battling again yesterday but managed to finish the day just above the $10.74 level.
We all know how important this level has been.
However, some weakness in the PM now, mainly for Chinese stocks and when I saw weakness, it is very little red not much to be concerned about.
Important earnings today for some Large and Mega Banks, so we won't be surprised by any volatility.
We know that the 200 Day MA is important and staying above this level is bullish and so far, $NIO has been showing strong signs of reversing and staying above the 200 Day MA should keep that momentum.
Losing the 200 Day MA, or worse yet, losing the 200 Day MA, retesting from below and it becomes a resistance level, is not confirming a reversal.....but this has a long way to go to get there.
The fact this is above the 200 Day now means the bulls are still in control.
A bounce on the 200 Day MA at $10.28 on the daily, should be a buy signal.
Kevin J
2023-07-17 07:44:00 +0000 UTCSuresh
2023-07-15 03:17:15 +0000 UTCGareth Neary
2023-07-14 20:42:39 +0000 UTCDan G
2023-07-14 20:41:39 +0000 UTCGareth Neary
2023-07-14 20:40:55 +0000 UTCDan G
2023-07-14 20:39:56 +0000 UTCGareth Neary
2023-07-14 20:00:04 +0000 UTCDan G
2023-07-14 19:52:04 +0000 UTCThomas Macdougall
2023-07-14 19:45:43 +0000 UTCDan G
2023-07-14 18:39:22 +0000 UTC