Nio has gained a lot of attention and expanded its wave (i) more than I initially expected. This impressive rally came to an end shortly after we reached prices above 16$ and the stock has been declining since. We updated our wave counts slightly and highlighted a green retracement zone on the chart. In the next few weeks, we should continuously move lower until we reach 12$-10$.
Greetings from Switzerland, Ben
As of now, we don't hold any long positions in Nio Inc. but we are going to accumulate our first position as soon as we reach our green retracement zone.