Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Nio Inc. – ADR, NIO stock price may continue to surge towards the $20 recovery level, says analysts.</a> </li> 
 <li> <span>2</span> <a>NIO shares have recovered above 20, 50, 100 and 200-days daily moving averages.</a> </li> 
 <li> <span>3</span> <a>NIO share price got rejected from $15.50 recovery level on July 31st and is trying to maintain the recovery.</a> </li> 
</ul> 
<p>NIO stock price needs to maintain the recovery phase in order to surge and reach the $20 mark over the daily time frame chart. NIO shares have been gaining after getting support from the $7.33 support zone. NIO share price must accumulate buyers in order to surge with a strong upside trend. Meanwhile, volume change will have to be maintained during the intraday trading session.</p> 
<p>Analysts believe that NIO stock price may recover till the $20 recovery level if it sustains above the primary resistance level. For NIO share price to reach the $20 level, buyers must maintain their accumulation rate to push the NIO stock upwards.</p> 
<p>NIO stock price was at $14.57 and lost 0.41% of its market capitalization in Wednesday’s trading session. Trading volume is above average which will have to be maintained during Thursday’s trading session. Meanwhile, NIO stock has gained 3.16% in the pre-market session of Thursday and was at $15.03.</p> 
<h2 class="wp-block-heading" id="strong-nio-stock-price-is-overbought-rsi-strong"><strong>NIO Stock Price is Overbought – RSI</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/uwqKt_p67TszE9TPBqrGITxK5PVh_kON9_yOK_foSSuYTrkbmHNeglXJl-Nr7TZYDWcYx6SwqcuQOXyFdCGqdDnknvR4r03JFDbu8h2RVnn7rR5QwzHyHY1vNzpfkpTVS7NAFy41crm7pvkKf3NyhQ" alt="Nio Inc - ADR (NYSE: NIO): NIO Stock Price May Surge For $20"> 
  <figcaption class="wp-element-caption">
    Source: NYSE: NIO by <a href="https://www.tradingview.com/x/OxiDgW53/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>NIO stock price has been trying to maintain the upside trend to reach the $20 recovery level over the daily time frame chart. NIO shares must maintain the accumulation rate of buyers during Thursday’s trading session so that the volume change can remain above average over the daily time frame chart. Moreover, NIO shares have recovered above 20, 50, 100 and 200-days daily moving averages.</p> 
<p>For NIO share price to maintain their recovery phase, the price of stock needs to maintain itself above the $13.21 primary support zone, and must register its breakout from the primary resistance at $15.50.&nbsp;</p> 
<p>In addition, NIO <a href="https://www.thecoinrepublic.com/2023/08/03/canoo-inc-nasdaq-goev-stock-price-roadmap-to-5-in-2023-report/" target="_blank" rel="noopener noreferrer nofollow">stock price </a>has gained 17.50% in a week and 43.55% in a month. Also NIO shares surged 88% in the last three months and 25.06% in the last six months. NIO share price has recovered around 42.70% year to date. This confirms the facts regarding NIO share’s maximum recovery in 2023.</p> 
<p>Technical indicators are giving positive signals for NIO share price. The relative strength index and moving average convergence divergence both confirm the recovering momentum of NIO shares.</p> 
<p>RSI was at 74 and is inside the overbought zone. The MACD line is ahead of the signal line after a positive crossover in the positive zone. Investors in Nio Inc. – ADR (NYSE: NIO) stock need to wait until the NIO share price breaks out of the primary resistance level of $15.50.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>To soar and cross the $20 threshold on the daily time frame chart, the NIO share price must continue its recovery phase. Analysts predict that if NIO shares continue to rise over the main resistance level, it may eventually reach the $20 recovery level. In addition, the price of NIO share rose 17.50% in a week and 43.55 percent in a month. Technical indications point to a rising price for NIO stock.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<p>Support Levels: $13.55 and $13.00</p> 
<p>Resistance Levels: $15.50 and $17.00</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Nio Inc – ADR (NYSE: NIO): NIO Stock Price May Surge For $20

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Thecoinrepublic.com

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