$NIO TOP 20 UPDATE
Added 2023-06-28 19:53:24 +0000 UTCNot much to add on from yesterday's lengthy update. The price action has stayed strong all day, in spite of weakness from other Chinese stocks, I have added in again the blue pattern which was taken from the white circled area in April. We can see that they are very similar but the price action topped out at the 0.618 Fib and then rejected quite heavily, so far the price action now has just gone above that now, it can still reject at any stage but it is good to consider all options.
If it does not reject, we expect it to move higher to complete Wave 5 and then pull back for the ABC count as shown and come down to $8.44 to complete Wave C and this is where I will be adding and only here, when ABC is complete.
Comments
Curious to see if $NIO will play out similarly to what happened in April - the differences are quite clear, but the hard rejections at ~10.70 down to 7s
Joey
2023-09-27 17:48:10 +0000 UTC
