$NIO TOP 20 UPDATE
Added 2023-05-17 09:42:24 +0000 UTCYesterday's price action confirms that Monday's bounce was part of a corrective move down. The price is now below the 50 Day MA comfortably and rejecting below $8 now.
I would not be surprised to see some sharp movements down over the next few days.
The RSI and MACD's trend is very clear here on the 1hr chart, there is very little to be optimistic about.
I am seeing a lot of $NIO bulls online, starting to lose in faith and possibly start to believe that $NIO can not turn this around and many people getting fixated on insurance numbers. This is all reflective of the share price right now and the movement down the wave count.....we could not get down to the buy zone, if people were thinking differently and were getting bullish, so this is exactly what we want to see, utter despair.
Sometimes it is difficult to think differently to the general market, but there is a reason why 10% of the population account for 90% of all the wealth in the world.
Once my waves are complete, I believe the bottom is in, this may come sooner or later as shown but I set the wave dates on the charts depending on how the waves are moving, do not get fixated on dates.
