NIO is nearing the end of its correction Long

NIO Inc.NYSE

Description

⋅ Mar 4, 2022 12:53 PM

I've been tracking NIO for quite a while now, and the correction has been long, and complex.

I have had this down as a 5-3-5 correction since Feb/March 2021, and it has played out accordingly.

The last couple of days have been confusing, but it's clear that we're on either Wave 1/2/3 of:

5 of 5 of C of 2.

On the Primary count, this is a Wave 2. I was going to buy at $27 at the 0.618 fib, but feel this may go as low as the 0.786 fib at 15.43ish.

I plan to start buying in tranches when this falls below the previous low of $18.08.

Ideally, I want to buy from $17.50 and lower, but we will see what happens!

NYSE:NIO

Elliott Wave

Comments

Supa1987

⋅ Mar 4, 2022 1:15 PM

What is your prediction? I think if DXY still go to upper levels, will defenetly stocks goes down?! Beside, NIOs february delivery is weak and it defenetly affect on stock price. Best regards

mbelasy

⋅ Mar 4, 2022 1:23 PM

I am not sure what to think as many think it will go down to 16$ a share

Supa1987

⋅ Mar 4, 2022 1:44 PM

@mbelasy, I think it to :/ First covid now crazy war in Ukrain, f***** lotery