$NIO TOP 20
Added 2023-02-26 19:39:33 +0000 UTCObviously a very good week for us Nio fans and especially those who sold when it failed to get back into the Red channel and waited (painfully) for this to come down. If you notice the vertical blue line that cuts down the middle of the chart, you can see on the RSI and MACD indications, that it was at this moment, they both turned bearish and NIO started to move lower, quite aggressively. So we know that these indications are giving us very important information and this will be crucial both here and on the other charts uploaded this weekend.
1st March NIO will release the Feb Production numbers and their earnings report, both of these catalysts have the potential to alter this chart.....my thoughts are that with the production numbers were not exactly fantastic leading to the end of 2022, I don't expect many surprises or a large beat, that being said, their guidance could be incredible and the market could love it.
Monday and Tuesday will be interesting to see if the price action continues to rapidly fall, if it does or even goes below the previous low at $8.38, I may buy my first position with the anticipation of a possible surprise earnings beat and incredible guidance.
Please weigh up what you are comfortable with here, I have uploaded my long term chart for NIO plenty of times so you all know where I think this is going for long term.
Would I be happy with buying at $8, $7, $6 and $5? absolutely I would be happy with this.
