3-wave Declining Series Finished? Upward Trend Next: LONG
NIO has apparently reached a relative-low...and trough in a 3-part corrective wave.
The dip is a nice spot to buy, and NIO should ascend to 60-plus/share eventually -- the WHEN on that remains UNDEFINED. The stock has been fairly volatile, but those seeking a 1-plus year hold are in a good spot to load up.
There seems to be strong support at these previous lows, and it could ascend quickly back to the highs it attained earlier, but stocks take longer to finish corrective waves upward, so the range on this easily could still be a 9 to 12-month hold -- The longer the better, probably! The Red Tesla is flexing, but the resistance it is encountering is probably not significant enough to deter anyone looking for a very long-term hold.
--BDR
The dip is a nice spot to buy, and NIO should ascend to 60-plus/share eventually -- the WHEN on that remains UNDEFINED. The stock has been fairly volatile, but those seeking a 1-plus year hold are in a good spot to load up.
There seems to be strong support at these previous lows, and it could ascend quickly back to the highs it attained earlier, but stocks take longer to finish corrective waves upward, so the range on this easily could still be a 9 to 12-month hold -- The longer the better, probably! The Red Tesla is flexing, but the resistance it is encountering is probably not significant enough to deter anyone looking for a very long-term hold.
--BDR
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