Taking long after pullback

* RSI heavily overbought 4h tf
* VOLUME starting to cool off
* Pullback after impulse!

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Just a reminder:
Fib extension 1.62% (2.36) may still be in play if price goes under 4.00 again
Its the ultimate low on my chart

Impulse leg what was formed 1.05 = April deliveries

Last time in April 2020: Price range 2.12-2.36 (matches with the current Fib 1.62) - where the rise started

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Taking the Long ONLY if the 4.00 price does not break!

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Fib 50 retracement and support line

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What does this form remind You? ABC correction (fib50) in bullish flag

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Got in, lets see how it will go.
News, sales etc all good for that move (ONLY MY OPINION!)

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I`ll take the risk

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We have Volume!

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Should be next move because : RSI overbought, downwards channel upper line and as always a little healthy pullback before upward continuation

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Breaker?

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Company Achieved New Record-High Monthly Deliveries
NIO delivered 20,544 vehicles in May 2024, representing a substantial increase of 233.8% year-over-year. The deliveries consisted of 12,164 premium smart electric SUVs, and 8,380 premium smart electric sedans.

Now we could see a little push to upside!
As for now, I think this is only temporary push.. We need to maintain these delivery numbers every single month to start growing!
Good luck for everyone!

It’s not a financial advice!