ruebennase

NIO....Wave 3 done? Corrective setback underway?

NYSE:NIO   NIO INC
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4
Hello Traders,
NIO has achieved my target zone as mentioned on Sept. 19 at $26.- and above.
The move from the low on March 18 at 2.11 is betted in a trend channel. It could be possible that the high at $29. 40 was wave 3 and the next move should be a corrective one to develop as wave 4 of the same degree.
If so, a first target could be around the $22.56 area where an open gap was left on the chart by the trading on Oct. 13-14! This would be closed at $21.62. More corrective potential exists.
Any extension of the advance above the high at $29. 40 would mean an acceleration of the advance to new ATH`s!

Have a great week...
ruebennase

Feel free to ask or comment!
Trading this analysis is at your own risk!
The editor is invested at this stock!

Comments

Thank you, I wil lwait to buy at $22.56 as you suggest
Reply
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