Maker

Resistance

Billion

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NIO stock experienced its worst day in 4 years, falling by 17.07%.</a> </li> 
 <li> <span>2</span> <a>In pre-market, NIO stock showed a gap-up of 2.46%, suggesting buyers are attempting a rebound.</a> </li> 
</ul> 
<p>NIO stock price faced a massive decline post gap-down move and stretched the fall over 17%, indicating selling pressure in the last trading session. Moreover, the NIO stock price has slipped below the primary support of $10 and is heading toward the demand zone of $7.00, which will be retested soon. Furthermore, the chart structure shows rejection from the 200-day EMA, which bulls failed to surpass.</p> 
<h2 class="wp-block-heading" id="strong-what-went-wrong-for-ev-maker-nio-inc-strong"><strong>What Went Wrong For EV Maker NIO Inc.</strong></h2> 
<p>The EV Maker NIO Inc. has revealed in an SEC filing that it plans to issue convertible debt offerings of $1 Billion to American Depositary Shares (ADS). After the fundraising announcement, NIO stock experienced pain and shedding over 17%. Recently, NIO stock showed a reversal and reached $16.&nbsp;Afterward, NIO stock failed to extend the gains, which was followed by a bearish spell.</p> 
<p>NIO stock price is trading below the significant moving averages and shows seller dominance on the charts. Furthermore, if the stock price sustains near $8.50 in today’s session, a recovery toward $9.00 can be anticipated, whereas if it fails to hold, the price could go as low as $7.00.</p> 
<p>At press time, NIO Inc. stock price is trading at $8.55 with an intraday drop of 17.07%, showing massive selling pressure arising in the last trading session. Moreover, the trading volume increased by 38.90% to 215.989 Million, and the market cap fell to $16.283 Billion. However, analysts maintained a neutral rating with a yearly target price of $13.00, which the stock retested in the past sessions and faced a reversal.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/01/nio-stock-nyse-nio-buy-sell-or-hold-nio-after-q2-earnings/" rel="noopener noreferrer nofollow">NIO, Inc. </a>is a holding company that designs, manufactures, and sells electric vehicles. Its products include the EP9 supercar and ES8 7-seater SUV. It provides users with home charging, power express valet services, and other power solutions, including access to public charging, power mobile charging trucks, and battery swapping. It also offers value-added services such as service packages, battery payment arrangements, vehicle financing, and license plate registration.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-nio-stock-showcases-bearishness-on-daily-charts-strong"><strong>NIO Stock ShowCases Bearishness on Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/Zjiv6ldDYi4v4LctdPUYRy1ejkGa5VsztZIQw38Tl-ZMBkn7iNU6X48zpvf9qdPn12e3SHLknDy0blusDk-EaGySBRwrUMu09YEPzm6M8HX8DAcJLgBExDys44t83BooQbajO_nTSKjm5OwwSEljEZI" alt="Will NIO Stock Settle Now or Drag Further, Amidst Negative Cues"> 
  <figcaption class="wp-element-caption">
    Source: NIO Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, NIO stock price formed a bearish marubozu candlestick, highlighting seller control in the last trading session. Moreover, NIO stock fell over 17%, and has lost the buying momentum, indicating a further decline toward $7.00 in the following sessions. Furthermore, the aggressive short buildup activity suggests that long positions were trapped, and panic selling was witnessed, which was a negative sign for the investors.</p> 
<p>The RSI curve sharply dragged toward the oversold region, showing a negative crossover, indicating a panic selloff in yesterday’s session.</p> 
<p>The MACD indicator shows a bearish crossover and formed red bars on the histogram, suggesting a negative outlook for the following sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>NIO stock price showcased a massive fall and slipped below the primary support zone of $10.00. Moreover, the stock price is dragged into the bear trajectory and may experience a further selloff toward $7.00. Furthermore, the chart shows the inverted V-shaped rejection from the 200-day EMA, which shows bearishness on the charts.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels</strong>: $8 and $7</p> 
<p><strong>Resistance Levels</strong>: $10 and $12</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Will NIO Stock Settle Now or Drag Further, Amidst Negative Cues

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