$NIO TOP 20
Added 2023-06-03 14:44:55 +0000 UTCI uploaded 2 detailed charts and commentary yesterday in case buyers stepped in after the flush on Thursday where it aggressively dropped down to $7 and bounced.
We spoke about the price action needing to get above the 50 Day MA and the 200 Day MA and then had the 0.5, 0.618 Fib at the yellow trend line, 4 big resistance levels to break through in order for this to show signs of reversing.
The 50 Day and 200 Day MA at the 0.5 Fib was enough to reject this move and it rejected with 3 waves up, so we were happy to see this, it's possible that this is Subwave 2 complete now but we will only know that subwave 2 is complete when we make a new low below $7.
A new low below $7 should bring us right down to our ideal target to buy again around $6.50 - $6.80, where I will be allocating 20-30% of my $NIO capital this time.
The 9th of June is game day for us, next Friday, a weak earnings report and this should take its final hit, I would not be surprised to see this get it's final capitulation then.
We'll be ready assessing this all week.
Comments
- http://www.investing.com/analysis/1-stock-to-buy-1-stock-to-sell-this-week-apple-nio-200638695 This is funny. We are all ready to buy Nio in the next few weeks and I certainly wouldn’t be buying apple right now even if it does go a little higher.
Thomas Nugent
2023-06-04 17:34:49 +0000 UTCOnly 4 months, in my case 2 years
Mark
2023-06-04 13:10:12 +0000 UTCThat feels like a lot of faith in Chinese guidance?
Jesse Gaffey
2023-06-03 21:14:06 +0000 UTCExactly. They need to reaffirm that 250k delivery. If they say anything less I could see 6.5-6.9 happening.
Rami Jaradat
2023-06-03 16:25:22 +0000 UTCAlternatively - if the existing earnings is bad (as we know), but they provide strong guidance it could be the start of the reversal too
SSK
2023-06-03 15:55:03 +0000 UTCHoping on making a big pile on Friday. Been waiting 4 months
jaime cerrato
2023-06-03 15:44:30 +0000 UTCIf they can execute their production numbers to scale as they have advised, then yes
Gareth Neary
2023-06-03 15:09:14 +0000 UTCDo you see this as a potential 100 bagger from 6-6.50?
Jesse Gaffey
2023-06-03 15:08:28 +0000 UTC
