NIO Inc. Sponsored ADR Class A
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$NIO Fibonacci Analysis. Reversal is coming.

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Placing the fib-retracement tool on the top of the chart and the recent bottom, I see that many level coincide with the support and resistance areas on NIO's chart.

Short-term, I see NIO breaking out of this falling wedge:

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It takes ~140 days for the third dive to play out. (Inverse H&S pattern, IMO).

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See my previous post for a more in-depth explanation:

$NIO Triple dives, a repeat of 2020-2021. Bears in hibernation.
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Please see it withing this larger context of China equities.

MCHI:

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CN50:

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KWEB:

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