Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NIO stock price broke below key moving averages in past sessions giving bearish signals. </a> </li> 
 <li> <span>2</span> <a>Nio stock (NYSE: NIO) is in the correction phase after taking rejection from the $16.19 level.</a> </li> 
</ul> 
<p>NIO stock is trading in a bearish trajectory, breaking below key moving averages in the past few sessions. In the last trading session, Nio stock opened at $11.29 , closed at $10.79 showcasing the bearish pressure on the stock. However, the total change was -1.46% with a volume of 43.692 Million.</p> 
<p>NIO stock price is currently trading within the firm grasp of the bears. Nevertheless, despite making a solid bullish momentum in the past few months, the bulls have not been successful in sustaining the price above the 50 and 200 EMAs on the 1-day timeframe.</p> 
<p>NIO stock price witnessed profit booking from its recent high of $16. NIO stock price witnessed a strong bearish momentum on the daily time frame. NIO is currently trading close to the value of $10.79, with a loss of 1.46% in the previous intraday session.</p> 
<p>Nio Inc.’s bullish trend halted near $16.20. Moreover, the next critical support for the stock price is around $10.22. Nio Inc.’s price is currently below the 50 and 200-day EMAs. If the price surges again above the 200-day EMA, then a substantial upside trend can be noticed in the future which is looking somewhat difficult now.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-nio-stock-on-1-d-time-frame-strong"><strong>Technical Analysis of NIO Stock On 1-D Time Frame</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/6s7UqUPQDEEQ4Hevz8EecaII5YS8_8zoWc0hgRjTty92dH8wzPc2zmTiPhVvlMsIvoMCTHYu2qvjHC3cSQFX3BXUlNdcavnfELKed5WAKe420LxgtdCuEmsPiL8bv6SNTOGA--jpPZ583lAJZL9E6zw" alt="NIO Stock Price Continues to Plunge, Will it Break Below $10?"> 
  <figcaption class="wp-element-caption"> <strong>Source: TradingView</strong> 
  </figcaption> 
 </figure> 
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/08/13/nio-stock-nyse-nio-nio-inc-adr-corrected-21-from-a-recent-high/" rel="noopener noreferrer nofollow">Nio Inc. (NYSE: NIO) stock</a> gave good returns in the past three months with the price gaining 32.56%. Furthermore, the price could not sustain and lost almost 12% in last week’s sessions. At the time of writing, NIO stock is trading at $10.79 with 24 hours trading volume of 43.692 Million.</p> 
<p>At the time of publishing, NIO is trading below the 50 and 200-day exponential moving averages (EMAs). However, in the last trading session, the price retested 50 EMA and down again.</p> 
<p>Moreover, if selling volume adds up, then the price might break its crucial support levels by making lower highs and lows. Hence, NIO price is expected to move downwards giving bearish views over the daily time frame chart.</p> 
<p>The MACD line at -0.1401 and the signal line at 0.3623 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the NIO share price.</p> 
<p>The current value of RSI is 38.87 points. The 14 SMA is above the median line at 52.88 points which indicates that the NIO stock is bearish.</p> 
<p>In the 4 hours time frame, NIO stock was under sellers’ control and with profit booking noted on the short-term charts. Moreover, the price broke the 50, 100, and 200-day EMAs, which is a clear indication of bearish sentiments.</p> 
<p>The RSI curve is near the oversold region at 32. A negative divergence was noted, indicating bearishness in the stock.</p> 
<p>The red bars and a bearish crossover in the MACD chart signal strong bearish moves.</p> 
<p>The technical indicators of NIO favor the bears projecting a pessimistic perspective for the bulls. RSI and stochastic RSI oscillator are heading towards the oversold zone whereas the major EMA lines are acting as barriers for NIO price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/13/nio-stock-nyse-nio-nio-inc-adr-corrected-21-from-a-recent-high/" rel="noopener noreferrer nofollow">Nio Inc.’s technical</a> indicators indicate a bearish trend in the stock. The MACD, RSI, and EMA are highlighting negative signs and imply that the downtrend may continue in the NIO stock price. NIO price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Support Levels: $10.23 and $8.44.</li> 
 <li>Resistance Levels: $16.16 and $17.73.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis delivered in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

NIO Stock Price Continues to Plunge, Will it Break Below $10?

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