$NIO TOP 20
Added 2023-01-15 17:11:29 +0000 UTCI think we are all aware of the NIO chart at this stage, as we update this chart daily. Quite simply, if it gets back into the wedge and holds, then we are bullish, if not, then we go down.
The .618 and .65 FIB resistance lines are key to watch this week if it shows any momentum.
My thought process is, if this is an impulse wave since it's $8 lows (which it doesn't look like it is but if it is) Wave 1 topped out at $14 and we are in Wave 2 now, since we know Wave 2 has 3 waves, ABC, we can only see two waves so far, SO, if this is an impulse wave since the low, it would need to pull back now anyway to complete Wave C of Wave 2.
Long story short, a pull back I feel is inevitable.
