In my last post, I suggested that $NIO needed a new low, at a minimum, in order to complete its correction. It has struggled to do so and I’m now going to drop that call. Sometimes these setups deny us the ideal entry, and I have a further reason to do so: both $TREE and $PLUG have very similar structures and both of them were able to make new lows. I now think they will all rally together (the connection is obviously “growth stocks”).
I am now targeting the orange box (note the potential micro inverse). It may still eventually make a new low at some point, but for the moment, I think it’s going up first.
[UPDATE]: We have reached the target range. I will need to observe it now to see if we get a 1-2 pump.