Someone asked a question about nio - so here is my chart.
The first move up off the low set on 5/13 was clearly an impulse - that tells us that likely wave 2 bottom was in back at the 50% retracement. I believe that's what the question was about - when wave II bottomed. Even though the correction off ATH's isnt the cleanest to count - we look at the next move and clearly it is an Impulsive move - not corrective - and that tells us bottom is likely in. Late last week dark pools started to buy at 38 a share- when you see that and it was obviously a buy and not a sell (it because support vs it being resistance) then we know even institutions are jumping on board - so get ready for next move up. I think NIO crosses 44-45 sometime next couple weeks
The first move up off the low set on 5/13 was clearly an impulse - that tells us that likely wave 2 bottom was in back at the 50% retracement. I believe that's what the question was about - when wave II bottomed. Even though the correction off ATH's isnt the cleanest to count - we look at the next move and clearly it is an Impulsive move - not corrective - and that tells us bottom is likely in. Late last week dark pools started to buy at 38 a share- when you see that and it was obviously a buy and not a sell (it because support vs it being resistance) then we know even institutions are jumping on board - so get ready for next move up. I think NIO crosses 44-45 sometime next couple weeks