$NIO TOP 20 UPDATE
Added 2023-06-21 15:46:43 +0000 UTCVery good bounce at the opening, likely due to China's extension of grants for NEV's which should help the industry and help reach their target of at least 50% of all new car sales by 2025 must be EV.
The bounce hit the 0.88 Fib exactly and rejected and came down hard, in line with a lot of stocks today as Powell doubled down on his inflation fight.
I will leave the Subwave 4 target as it is, this could still be an ABC count of Subwave 4. The $8.80 level is still very important to me at the blue line, as this has been an important support/resistance level, so if the price action loses this level, it should come down a lot further.
The 50 Day MA is just below now at $9, let's see if this acts as a support level, if this does offer support, this could be Subwave 4 completing and this will go higher for Subwave 5 next.
Comments
Do you think Nio will hit $24 by the end of the year or it will take long time because i bay nio with cost 7.92 and iam all in
Bojasem
2023-06-21 21:25:10 +0000 UTC
