$NIO TOP 20 UPDATE
Added 2023-03-30 17:06:40 +0000 UTC$BABA had its day this week and now $NIO is having its day today. Yesterday I spoke about my concern about it moving in an ABC count and could hit $10.60 and the yellow trend line, it is just approaching that trend line now....Bulls have stepped in, as they have been doing with a lot of Chinese stocks today, they have been buying this and if they can flip this trend line to support, then the lows are behind us.....if it rejects, it is likely to come all the way back down again.
I usually have a strong conviction when I buy and this has not came in yet, we have seen many ABC counts come in before with $NIO and many people thought the bottom was in then too and this was going a lot higher, only to be humbled by $NIO again, I remember at $13 many said I was wrong that it was in the bull trend and it dropped to $8....we are still only at $10.70 as I write this.
Go with what you feel comfortable with here, I do not buy when something jumps like this, this is just my own preference, I do not like to lose money, missing an opportunity is no problem to me.
Comments
I have not bought here
Gareth Neary
2023-03-30 21:40:20 +0000 UTCWhere do you set your stop loss now for $nio?
ES B
2023-03-30 17:52:04 +0000 UTCThanks, really good analysis, and very important I think to remember the context, it is still only in the mid-tens
Andrew Hopper
2023-03-30 17:40:45 +0000 UTCThank you. I'm happy selling puts on this until it comes back down
TSS
2023-03-30 17:38:12 +0000 UTCThanks for the update, let's us know when you buy
Eduardo Raposo
2023-03-30 17:25:35 +0000 UTCTnx Gar, great one
Kristof Van Nevel
2023-03-30 17:10:30 +0000 UTCThanks for the update and guidance. Holding strong
BHelmsUNC
2023-03-30 17:09:52 +0000 UTC
