The Long Investor

$NIO TOP 20 UPDATE

Added 2023-04-05 18:41:31 +0000 UTC

Another great day for us with $NIO, a lot of sellers stepped in today and flushed this hard, went below the 50 day and 200 day MA's now on the 1 HR. Showing some signs of exhaustion now so a bounce for subwave 2 must be due, I am provisionally drawing the subwaves now and coincidently subwave 2 can bounce to the 0.38 Fib which sits exactly at $9.53, the 50 day MA is likely to meet at this point too, so this may be a suitable position to reject and come down further....but we know that Subwave 2 down can bounce to the 0.618 comfortably so we won't get fixated too much. We want to see this structurally behave like we expect and I'll be happy.

So far, all is going to plan.