$NIO TOP 20 UPDATE
Added 2023-08-09 10:00:26 +0000 UTCWe have been waiting for $14.10 to hit and it went down to our level yesterday. Hit a low of $13.73 and recovered well towards the end of the day.
I was impressed with the ascending triangle formed leading back up to the $14.10 level and when it broke above we bought and a buy alert was sent out.
So far the price is holding above this level in the PM, ideally a bounce on this level and possibly a retest of this level again from above is the perfectly outcome from for us, once it finds support on this level from above.
Overall the $QQQ and $SPY has been declining this month and I do not believe this is over yet but we are due a relief bounce (Wave B of Wave 4) this relief bounce could help bring $NIO up to Wave 5 and $18.24
That is the plan for now.
If $14.10 does not hold, we will watch for support at lower levels.
If I was happy to add at $14.10, I will certainly be happy to add lower to help manage my average here.
The Green Fib levels on the right side of the screen is where I have provisionally put our ABC corrective levels at, I will not know where this pull back will be until Wave 5 is complete.
Comments
Had a gap at $13.43 and was filled today. Support at 13.19 held so lets go wave 5. Happened to put a Schiff pitchfork over the hourlys, , looks good.
Labo
2023-08-09 18:04:35 +0000 UTCAre we adding here? Seems like it could fall to 10?
SH
2023-08-09 16:05:06 +0000 UTCTime does not matter to us, or end of day, it’s about maintaining above this level
Gareth Neary
2023-08-09 13:29:11 +0000 UTCCorrect. But it sounds like he is tending towards holding $14.10. That confused me. As so far we always said it doesn't matter if price is above or not, holding by closure is key. But I just might misunderstood that.
Bjoern Szymkowiak
2023-08-09 12:23:28 +0000 UTCHe mentions both plans if $14.10 holds or doesn’t. Gl
Raj Badola
2023-08-09 12:18:51 +0000 UTCThank you. Thought it's important if $14.10 hold at closing. Bc by then the price was below. but now you seem convinced that wave 4 is done and Nio entering wave 5, correct?
Bjoern Szymkowiak
2023-08-09 11:06:23 +0000 UTCPlan sounds perfect 👍🏻
Federico Salerno
2023-08-09 10:20:22 +0000 UTC
