$NIO TOP 20 UPDATE
Added 2023-07-07 13:45:11 +0000 UTCVery little to add her, except that I have Wave 5 in green topped out here at $10.47 which was just short of the 200 Day MA.
There is a potential Head and Shoulders pattern forming here, so if we can get the right shoulder to make a lower high, which we know is Wave B completing, then we can expect this to fall down to complete Wave C then.
Once Wave C is looking like completing, we will be adding, so the aim will be to add around $8.50, this will be around the 0.618 Fib, I will be watching the 0.5 Fib too at $8.75.
As always, a break above the 200 Day MA, which is at $10.46 now, confirms that the reversal is complete and this is into Wave 3 then.
Comments
Another question. Why does the buy zone not move up in line with 8s as that is when you next intend to buy?
Dan G
2023-07-08 14:30:24 +0000 UTC???
Dan G
2023-07-08 14:29:35 +0000 UTCDo you mean if it goes higher than 10.46 the new support will be 10.74 and therefore not lower than this?
Dan G
2023-07-07 17:13:11 +0000 UTCSorry, I don’t understand whether that means it’s still likely to fall back to 8s or not.
Dan G
2023-07-07 17:11:40 +0000 UTC$10.74 would be my limit
Gareth Neary
2023-07-07 17:10:37 +0000 UTCIf it goes higher than 10.46 is it still likely to fall back to 8s?
Dan G
2023-07-07 17:06:16 +0000 UTC(I hope I am wrong and you're right, but I am not convinced with the way the stock is moving)
Muhannad Zetouny
2023-07-07 16:09:15 +0000 UTCI think we're still in subwave 3 of wave 1. This does not look like a correct ion (or what you're calling wave 2)
Muhannad Zetouny
2023-07-07 15:57:15 +0000 UTCNext update, I will add the the 5 waves, the overall long term chart has been uploaded a few times here and the 6-9 month chart has been uploaded a few days ago.
Gareth Neary
2023-07-07 14:12:38 +0000 UTCWhere is wave 3 on the chart and what will this mean for the price falling? Cheers.
Dan G
2023-07-07 13:49:56 +0000 UTC
