$NIO TOP 20 UPDATE
Added 2023-04-21 19:54:37 +0000 UTCI have spent some time on this chart this evening because I want to make sure I get it right. Because of the nature of the drop from $10 to $8, this was a 20% drop and it was almost vertical in its structure, these movements are typically found in Wave 3's....so we are likely in Wave 3 of Subwave 3 right now. I don't believe this wave count is complete yet, it should bring us right down to the top of the buy zone around $7.50, a little relief bounce first but $7.50 is the next target.
The targets all remains the same, the buy zone remains the same and we are looking at completing this whole structure by the end of May, maybe start of June.
Be cautious trading this, we have seen that people believe $8 is a support level but it is not, its simply a place for people to constantly get caught out, thinking we have bottomed. We are smarter than this.
Comments
Hi Cap, when US banned all the high tech trading to China, Nio will not be able to compete with its US/Europe peers in auto-drive for sure. So why people are so keen to invest in Nio in here?
Pixy Fung
2023-04-22 15:03:30 +0000 UTCI see three pretty big gaps down on the chart, do you think 1 or 2 will be filled before heading down?
Peter C
2023-04-22 09:29:21 +0000 UTCCan you share whole chart please? ( Not just last wave)
Mukhammad
2023-04-22 06:34:09 +0000 UTCYes, converting $8 to a resistance line would make a lot of sense here
Gareth Neary
2023-04-21 20:04:23 +0000 UTCThanks for the update Gar! Is the horizontal yellow line where you believe it will bounce to before heading back down and potentially completing subwave 3?
Peter C
2023-04-21 20:02:40 +0000 UTC
