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.
Nota
Still in the downtrend corrective moveNota
It's still crawling in the down channel. Will it reach A=C parity at the boundaries of the channel?
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.