Hello Traders,
on August 29, 2021, I wrote my latter analysis for NIO!
tradingview.com/chart/NIO/bG9Z4ZIb-NIO-Waves-4-done/
Update:
NIO has lost most of it's gains since the huge start of the rallies! The stock is now at an important and interesting level.
Here, the course will be set for the future! If the stock is strong enough to switch the route to the upside, it needs to be done within the next 1-2 weeks. A weekly, better monthly close above the level of 17.88 USD is significant to this view!
A wave 4 is only off the table if price is touching the price territory of waves 1 @ 5.65 USD! But as deeper the correction is moving, the less likely is this idea and a wave 2/b is turning into focus!
So, we have the next idea to play.
If at 66.99 USD a complete impulse wave was done, the running correction is a wave 2 of „intermediate“ degree (elliottwave-forecast...elliott-wave-theory/)!
With special thanks to elliottwave-forecast!
In this case, price can retrace 99.99% of the impulses without violating any rule. Keep that in mind.
But to be honest; NIO is late on this day's. So it would be pretty interesting for the coming 1-2 weeks!
Conclusion: All or nothing for NIO!
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
The editor is invested at this stock!
on August 29, 2021, I wrote my latter analysis for NIO!
tradingview.com/chart/NIO/bG9Z4ZIb-NIO-Waves-4-done/
Update:
NIO has lost most of it's gains since the huge start of the rallies! The stock is now at an important and interesting level.
Here, the course will be set for the future! If the stock is strong enough to switch the route to the upside, it needs to be done within the next 1-2 weeks. A weekly, better monthly close above the level of 17.88 USD is significant to this view!
A wave 4 is only off the table if price is touching the price territory of waves 1 @ 5.65 USD! But as deeper the correction is moving, the less likely is this idea and a wave 2/b is turning into focus!
So, we have the next idea to play.
If at 66.99 USD a complete impulse wave was done, the running correction is a wave 2 of „intermediate“ degree (elliottwave-forecast...elliott-wave-theory/)!
With special thanks to elliottwave-forecast!
In this case, price can retrace 99.99% of the impulses without violating any rule. Keep that in mind.
But to be honest; NIO is late on this day's. So it would be pretty interesting for the coming 1-2 weeks!
Conclusion: All or nothing for NIO!
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
The editor is invested at this stock!