Nio stock appears to have bounced off support and is now heading back up toward resistance.
The stock is trading below the 50-day moving average (green) but above the 200-day moving average (blue), implying that it is in the midst of a consolidation phase.
On the map, the 50-day moving average could act as a source of resistance, while the 200-day moving average could act as a source of support.
Nio Levels to Keep an Eye On
The NYSE NIO stock at https://www.webull.com/quote/nyse-nio appears to have three main levels that have previously served as resistance and support. The stock has found support near $32 on several occasions in the last six months.
The stock is now attempting to creep up to a previous resistance level of around $56. This is a stock level that has acted as both resistance and support in the past.
The stock has encountered resistance near $64 once it has surpassed the $56 mark. This level will act as a barrier in the future.
What is Nio’s next step?
Bullish technical traders want to see the stock make higher lows, perhaps as high as $56. With some consolidation, a break above this line and the $64 level could allow the stock to move higher.
Technical traders who are bearish on the stock want it to fall below $32. If the stock can break through the support level and consolidate, it will continue to fall.
NIO Stock Overview
NIO currently has a market capitalization of $67,523,331,272, which is higher than 96.3 percent of all US stocks.
NIO Inc’s revenue growth over the last 12 months has been 75.42 percent, outperforming 93.49 percent of the US stocks we follow.
The shareholder yield of NIO Inc is -56.93%, which is higher than the shareholder yield of just 4.09 percent of the stocks in our sample.
NIO Inc. ADR (NIO) is a company based in New York.
NIO, Inc. (China) is a holding company that designs, manufactures, and sells electric vehicles and drives next-generation technology such as networking, autonomous driving, and artificial intelligence. EP9 supercar and ES8 7-seater SUV are among its offerings. Users can charge their phones at home, and the company also offers express valet service and other power solutions such as public charging, power mobile charging vans, and battery swapping. It also provides additional value-added services, including service packages, battery payment plans, car financing, and license plate registration. Li Bin and Qin Li Hong formed the company in November 2014, and it is based in Jiading, China.
NIO Inc is a luxury electric vehicle manufacturer in China. The company develops, co-develops, and sells smart and wired luxury electric cars, advancing next-generation technology such as networking, autonomous driving, and artificial intelligence. EP9 supercar, ES8, ES6, and EC6 are among its models. The business sells cars through its distribution network, including NIO Houses, NIO Spaces, and a mobile app. The bulk of the income comes from the sale of automobiles. For more stocks like idxnasdaq xndx, you can check at https://www.webull.com/quote/idxnasdaq-xndx.