Today I finally sucked it up and took a $12,777.88 loss on $NIO ๐คฆโโ๏ธ this probably has been my worst ever investment. This was one of the first stocks I ever bought 5 years ago. I went all in without knowing anything about the market or companies for that matter.
Never again will I do that, at least I can take it as a tax loss.
Itโs good to show your losses, you donโt win all the time.
$NIO has been moving exactly as expected for over a year now!
It finished its wave (2) exactly at the yellow 0.618 Fibonacci. Right now it is probably in subwave (iii) of wave (3) after finishing its wave (ii).
Because of the deep pullback for wave (ii), the price targets do not align anymore with the wave (3) target. Therefore I expect one of the subwaves to expand in order to reach the wave (3) target at $11.
The downside risk for NIO is right now, that wave (2) isn't finished yet and a pullback to deeper yellow fibs comes after that, which then gets the price to around $4.8.
I continue to hold my @NIOGlobal position and view the price level right now as a good entry point. If it drops lower I am even going to increase my position more.
If you have any questions, please drop them in the comments. I am happy to answer them!
As always, this is not financial advice, do your own research!
WATCH: Another angle shows the private jet crash during an attempted emergency landing at La Romana International Airport in the Dominican Republic. Two crew members were killed.