Nio is forming text book EW ABC correction after large impulsive move I would estimate the last 5 wave are actually part of a larger wave 1 and the ABC correction is the larger wave 2 pull back and after NIO finds a bottom we will push up for Wave 3 of the larger wave heading for $137 or the 1.618 fib extension.
Last 'Short' report NIO had 75,170,000 shares ....@ approx 31....Now we are at approx 38.........Will be some 'High Rollers' digging thru their piggy banks very soon to come up with the moooo-la for the big SHORT....That should drive NIO shares back to $50 very quickly! LEMON SQUEEEZE anyone?
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@themrchris41, but its only less than 5% of the total float. I don’t think there will be a short squeeze like that. I mean I like to see us in 50s but I think perhaps second half of the year with good news and resolved chip shortage issue