The Long Investor

$NIO TOP 20 UPDATE

Added 2023-04-14 10:35:21 +0000 UTC

So that is back to back Fib lines we have called that $NIO has rejected at and I know some of our trader members have been lovin this.

So far $NIO has been behaving exactly as expected, with almost zero surprises and from a TA perspective I like this....or maybe we are spending so much time on $NIO that we are catching everything...maybe its both.

So for today, $NIO can have another attempt at the Fib levels again and even make it to the 0.5 Fib, this would still make the count valid but as long as it does not go above the $9.53 Fib I am happy.

Of course it can just reject now from the 200 Day MA and 50 Day MA which is coming down now to meet the 200 Day and if it crosses, this is a bearish indication and like $TSLA, this could pull this down aggressively.....we are in Subwave 3 for both $NIO and $TSLA so this sort of bearish indication is exactly what we expect to see here.

I know this is taking long but a lot of people are following this closely and without realising, you are learning a substantial amount of EW Theory here by focusing on this at this level.