$NIO TOP 20
Added 2023-04-17 15:10:35 +0000 UTC$NIO getting a pump today from the Shanghai Car Show, along with other Chinese EV companies.
So let's look at how the structure looks so we can better understand what it is. The large circle on the left was an ABC structure, rejecting at the trend line and dropping hard and the smaller one on the right, is almost an exact replicate of the larger circle but smaller, also looking like an ABC, so if it can reject at one of our Fib levels and the 0.618 Fib is probably the best Fib level to reject at for subwave 2, it will come down next, just like it did before.
The only thing that would change my view here is if $NIO went all the way up to the trend line at $11.05 and broke above that.....I think this is unlikely.
So to sum up, $NIO wasn't ready to complete Subwave 2 and we are waiting for a rejection at one of our Fib levels shown.
Comments
In line with my expectation. The wave 2 could go as high as 10.61 but it should turn today or tomorrow - being crazily overbought already. Might short that even with a small amountβ¦π€
rumorandvalue
2023-04-17 15:13:28 +0000 UTC
