$NIO TOP 20 UPDATE

20,462 were the July delivery numbers, a great achievement.

$NIO said that they would start ramping up by this summer and so far they have been keeping to their word.

We can see that $NIO bottomed at $7 on the 1st of June, another production results day, so we can see that the share price is moving in line with expectations of deliveries, this is why I believe our projection has been so accurate and why I continue to expect $30 EOY.

The chart continues to be accurate as long as $NIO executes on what they say they will do, as long as fundamentals improve and growth as expected, I have no concerns.

$NIO has been hovering around the 1.618 Fib all day yesterday at $15.17 and this is where we like to see Subwave or Wave 3 pull back, this is in line with yesterdays chart. A pull back to the 1.27 Fib at $14.11 over the next few sessions would be ideal.

We had issues before of people getting fixated on Subwave targets, they are incredibly difficult to count as the smaller the time frame, the harder it is to stay disciplined to the Fib levels, remember, all a count needs to have is the correct number of waves.....I am aware that not everyone is up to speed with how Ellliott Wave Theory works and the vast majority in this group do not care about Subwave movements, they just want to know when to buy and when to add on substantial pull backs.....buying smaller subwave pullbacks is not substantial pull backs, the end of a corrective wave is a substantial pull back. Which we will be watching for once Wave 5 is complete at $18.

So if you find yourself getting frustrated that you did not buy earlier, taking the lesson is much more valuable because you will make sure you will not do that again for the next stock we present, with the same upside potential.