- On 5 of 5 of final Primary wave and on Wave 3 of 5 of Intermediate wave. - We've hit the 1.75% extension target Wave 3 Target - With NIO Day just occured will we get a continuation of Wave 3 up to 2.272% @ 64.72 or the 1.618% @ 68.80from the previous Major High to Low? Or will we see the start of Wave 4? - Targeting at a minimum the 1.272% at $62.31 before Wave 4 starts.
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- On 5 of 5 of final Primary wave - On Wave 3 of 5 of Intermediate wave and hit the 2.272% and almost the 1.618% after a gap up from NIO. - Can we consolidate here to move higher or is this the top for wave 3. If so the updated wave projetion is below for wave 4.
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NIO Offering - Looks like will be the top for wave 3.
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NIO Breaking out again. Came down to into Wave 4 bottoming zone and bottomed at 55.67. Now at 61.37. Believe we have possibly finished wave 4 and moving into wave 5. Would need to see a 1-2 form and this would be invalidated if we break below 55.67
I'm curious, does anyone find NIO overvalued at the current price? With only 4 models for sale and available only in China, NIO's market cap is bigger than VW or Mercedes, all well established companies selling tones of cars. VW Group alone owns several car brands like Bugatti, Lamborghini, Porsche, Audi etc.
NickC_
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@farmerchris58, there could be. So if there is a large gap up. I would say no and there possibly be a fade then will see what happens. As lots of people would anticipate NIO day and take profits on the gap. If there is a move up that isn’t that large it could flag. I’m expecting the 1st.
TWTR_TraderChris
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@NickC_, given what happened the last couple hours of the trading day Friday, I would say a lot of people are in the profit taking mode. There were two big dips within the half hour that went all the way down to 54 ... then came all the way back and broke 59 before settling just below 59. I guess if NIO were to rise on Monday it would not be a large gap. The only way that could see a large gap up Monday is some institution was surprised by the news yesterday; which in reviewing the presentation in my mind, there's more questions than answers I believe. So my thought is it'll be a bumpy road tomorrow and the few days to come.
TWTR_TraderChris
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Do you think there'll be some consolidation before wave 4?
clarkehimself
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@farmerchris58, there is usually the longest consolidation before wave 4
TWTR_TraderChris
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@clarkehimself, based on what happened in Dec, I agree with your assessment.