NIO Technical Level: Support vs Downside Risk

Looking at NIO's price action right now, the question is whether we hold this support level or test lower. My take? The current zone should act as support—but let's be real, nothing's guaranteed in markets.

Here's what matters: if we break below here, the next target would likely be around 4.30. Not saying it will happen, but traders need to prepare for that scenario. It's about risk management, not prediction.

Do I think this is the bottom? Yeah, I believe so. The setup looks right for a reversal from here. But—and this is the critical part—you've always got to have a backup plan. Markets can surprise you. That's why you position accordingly: hold if support holds, but keep your stops ready in case we don't.

The key is knowing your levels and being ready to act.