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williamdas
Mar 10, 2022 6:25 PM

NIO update Long

NIO Inc.NYSE

Description

Waiting for the 20 moving average to start heading towards the 200, long term should do really well.

I'm thinking somewhere in this blue circle we'll see a reversal to some high points

Comment

need the 20, to start averaging toward the 200

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The 200 moving average is "losing" bars as it continues, which obviously effects the behavior of the current average

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Comments
flapbreaker
You're missing that the price action is in a decending wedge. The convergence of the wedge is in your blue circle area so you're not necessarily wrong but it's really the combination of the wedge pattern and the RSI/MACD and averages that will determine what happens.
williamdas
@flapbreaker, yee I'm just paying attention to the moving average at this point, drew the circle just at a general area
shySwift52114
So how much further it can go? I assume something around 10-15 is a buy?
williamdas
@shySwift52114 Long term, if we actually are in yellow wave 4, law says can’t enter price territory of yellow wave 1
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