$NIO TOP 20 UPDATE
Added 2023-05-05 17:30:03 +0000 UTCBouncing strong, no pullbacks and moving straight up, it broke above the yellow resistance line but if we plot Fib levels from the previous high and previous low, which I've done here in White, we can see that the price action stopped out at the 0.38 Fib line, which is common for a subwave bounce level.
Is this an impulsive now? No
Is the bottom in now? No
Will this continue down through the subwaves? Yes
Can counts extend slightly? of course, our counts are targets and not guarantees.
Has the plan changed here in any way for $NIO? No, we are waiting for more movement down into the buy zone.
