$NIO TOP 20 UPDATE
Added 2023-03-02 19:45:37 +0000 UTCLike I said earlier, we are going to be all over this. First of all, it has bounced well, after hitting new lows it has recovered and on a day when $TSLA is getting hammered. Let's remember, $NIO has gone from $13 to $8.31 and very little pull backs, a new low was bound to give it a slight bounce.
New Price Targets announced today with a target of $10, this is a 12 month target, not something to be overly excited about.
So for the chart, I have drawn in a red parallel channel, effectively the trend its been in since $13, it appears to be following the 50 Day MA too, so for now, we are in the middle of that trend channel, below the 50 Day MA and below the 200 Day considerably.
MACD trend has not been broken either and the RSI is just at the trend line now for a test.
Right now, this is not a buy for me. That is 5 indications that show that this is still within its trend.
As I've said a few times today, we all have our own strategies, if it makes you comfortable to add here incase you feel that you will miss out, that is a personal decision, nobody can ever tell you it is a wrong decision, it is all relative.
