$NIO TOP 20 UPDATE

Yesterday's news of $XPEV partnership with VW, fuelled the possibility that $NIO could be starting its own partnership with Mercedes or BMW. I think this speculation is merited but would $NIO sell another 5/7% after selling 7% to a UAE fund recently too?....I wonder would this be a smart move. A joint venture or cooperation without giving up any equity may be the best move but who knows, this is all speculation for now and we can't bake this into our strategy, hope is not a strategy.

So with yesterday's positive catalyst, $NIO burst through subwave 4 and went straight for our original Wave 3 target, which is always set at the 1.618 Fib at $13.50....with the movement in the PM now, I have moved Wave 3 up to the 2 Fib at $14.73 and we will be looking for a pull back then.

Subsequently, this moves Wave 5 slightly higher to the 2.27 Fib, which conveniently brings the price up to the long standing yellow trend line, which has divided the entire $NIO chart since its inception. Everything above this yellow line was still in a bullish trend, everything below this line was showing the bearish trend.

So this area does make sense to see a pull back, an ABC correction, after completing Wave 5. This ABC correction will of course be Wave 2, also a great area to add when Wave 2 is complete, so we have a few weeks/months until this happens.

Regarding a good area to buy now, our plan on Monday was the perfect place to buy, when I sent out the buy alert when we crossed $11.32

We hit the buy zone 3 times in June and we bought - First Buy Alert

We held the $10.74 support line on the 12th of July - Second Buy Alert

We broke above the previous high and out of the Bull flag on Monday between $11 - $11.32  -   Third Buy alert

This confirmed Subwave 3 of Wave 3 , we always like to buy at the at the start of Wave 3.

Three buy alerts went in at perfect times.....and I know most people are looking for more entry prices now but the question you need to ask is, why did you not execute your buy at these 6 points?....some will say they did, some will say they didn't buy enough, some will say they were not ready.....but this is something to reflect on. 6 opportunities were presented here and all documented word for word of the plan. Not every stock is going to present 6 perfect buying opportunities.

Execution on your buys is a very important part of investing, I can lead a horse to water but I can not make them drink it. We are still progressing and learning and I want everyone to continue on this path, even when we are making money.

For $NIO now, unless we get a rejection at the opening today and it comes down substantially, waiting for Wave 4 target should be the next aim to buy.