The Long Investor

$NIO TOP 20 UPDATE

Added 2023-07-12 20:04:26 +0000 UTC

Ok big day for $NIO and we were really focusing on the price action at the opening, it was up in the PM but we wanted to see it go red to pull back and test the $10.74 blue line and see if it could find support.

That is what happened, it jumped at the opening and then pulled back after 20mins, it tested $10.74 from above, it held and slightly bounced, it then retested $10.74 for a second time and held....this was the buy signal I needed and I entered a position.

All day yesterday it stayed above $10.74 but wasn't showing much teeth to go higher, so we needed today, to really show a bounce on support and we got it twice.

When I see this I buy, up until $10.74, $NIO was still at risk of going lower, especially underneath the 200 Day MA which it has not held above in nearly 2 years.

So we added in the buy zone and and we added above the 200 Day MA and now we are at an average of $9.

I am happy with this, we didn't chase, we waited for the risk to be off and we executed professionally.

Like I said earlier, $BABA went lower than we expected, $SE went lower than we expected....$NIO bounced sooner than expected, so more times than not, a stock will go lower but $NIO did not go further down the buy zone.

Am I happy that I am up over 50% on my buy in the buy zone?....of course I am.