$NIO TOP 20 UPDATE
Added 2023-05-10 16:25:17 +0000 UTC$NIO continues to do as we expect and when a chart moves like this, we'll stay happy.
Still struggling to gain any momentum above the 0.38 Fib, it has bounced to the level we expected but we will still wait and see if it can gather any momentum to run up to the 0.5 Fib where the 200 Day MA is at right now....of course I am happy if it rejects now and starts its move down for subwave 5 in amber.
MACD and RSI on the 1hr is showing that Subwave 4 is likely complete as the trend is bearish now.
Losing the 50 Day MA will confirm that Subwave 4 is complete.
