NIO - I will buy the dip at the end of this primary correction
Hello traders and investors,
today we see one of the main Tesla (TSLA) competitors: the Chianese Electric Car NIO. Assuming that 12 January 2021 was the pick of a Primary Wave 3 impulse, I am looking at the last impulse wave (primary 5) after the completion of Wave 4 correction.
As you can see in the chart, I see 5 intermediate blue waves down and 3 waves up, hence I am expecting another impulse down to complete intermediate wave C.
Fibonacci cluster/confluence either around 23.6% or at 38.2% retracement of Wave 3. In the first case, we will have a wave C similar to wave A, in the latter wave C will be extended up to 1.618%.
No rush to buy the dip. Target Wave 5 is yet to be calculated.
today we see one of the main Tesla (TSLA) competitors: the Chianese Electric Car NIO. Assuming that 12 January 2021 was the pick of a Primary Wave 3 impulse, I am looking at the last impulse wave (primary 5) after the completion of Wave 4 correction.
As you can see in the chart, I see 5 intermediate blue waves down and 3 waves up, hence I am expecting another impulse down to complete intermediate wave C.
Fibonacci cluster/confluence either around 23.6% or at 38.2% retracement of Wave 3. In the first case, we will have a wave C similar to wave A, in the latter wave C will be extended up to 1.618%.
No rush to buy the dip. Target Wave 5 is yet to be calculated.
Anmerkung
Still in the downtrend corrective moveAnmerkung
It's still crawling in the down channel. Will it reach A=C parity at the boundaries of the channel?
Haftungsausschluss
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.