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Wednesday

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<ul class="list-ic vertical">
 <li><span>1</span> <a>NIO stock price is down because of Tesla, says analysts, Nio being “Tesla of China”.</a></li>
 <li><span>2</span> <a>Reports suggest that NIO may deliver a loss for the quarter on November 9th.</a></li>
 <li><span>3</span> <a>Nio Inc. – ADR (NYSE: NIO) is planning to sell branded semiconductor chips and smartphones.</a></li>
</ul>
<p>Low earnings by Tesla (NASDAQ: TSLA) is affecting other EV manufacturers like NIO, as NIO stock price also slumped yesterday. The opening price for NIO (NYSE: NIO) was at $7.76 on October 20. As Tesla stock price slipped yesterday other EV manufacturers stock also slipped following the path of downfall. Analysts are blaming Elon Musk’s Tesla for the slippage of other EV stocks. The upcoming quarterly reports of NIO may showcase a loss of 43 cents per share, suggests analysts.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-nio-being-like-who-s-tesla-strong"><strong>Nio Being Like, Who’s Tesla?</strong></h2>
<p>Nio is promoting itself as “Tesla of China”. Tesla’s operating margin was only 7.6%, and its earnings were 66 cents per share, falling short of the expected 73 cents per share. Consequently, Tesla’s shares declined by 7% overnight, aligning with China’s trading day.</p>
<p>In addition, other chinese EV manufacturing stocks being traded in New York, that is (NASDAQ: XPEV) and Li Auto (NASDAQ: LI), also slipped overnight. However, Li stock price fell less than 3%.&nbsp;</p>
<p>Nio, which has traditionally followed Tesla’s approach of exclusively selling its cars directly, is considering establishing a network of dealers in Europe to assist its upcoming affordable “Firefly” vehicle set to be released in 2025.</p>
<p>The European market poses a significant challenge for all EV manufacturers. While regulators have given the green light to the transition to EVs, concerns exist regarding Chinese subsidies. In response, there’s a possibility of tariffs being raised.&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p>Tesla’s price reductions have impacted the profit margins of its Chinese rivals in 2023. As a result, these manufacturers have been forced to reduce wages for their assembly line workers.</p>
<p>Nio has implemented price cuts and will now charge for its renowned battery-swap service. Despite these measures, the company only delivered 15,641 vehicles last month, and it still faces a considerable journey toward achieving profitability.</p>
<h2 class="wp-block-heading" id="strong-nio-s-new-innovations-amid-clashes-strong"><strong>Nio’s New Innovations Amid Clashes</strong></h2>
<p>Nio’s “Innovation Day” on October 17 marked a pivotal moment for the company. They revealed plans to develop their own branded semiconductors, emphasizing their pursuit of innovation. Additionally, Nio is entering the software-as-a-service sector, focusing on providing cutting-edge software solutions.&nbsp;</p>
<p>The introduction of their own smartphone further reinforces their commitment to a holistic ecosystem. These bold innovations reflect Nio’s adaptability and resilience in a competitive landscape, amid clashes and industry evolution, highlighting their dedication to setting new standards in EV and technology sectors.</p>
<h2 class="wp-block-heading" id="strong-analyzing-nio-stock-price-technical-levels-strong"><strong>Analyzing NIO Stock Price Technical Levels</strong></h2>
<p>NIO stock price was at $7.69 and lost 2.78% of its market capitalization during Thursday’s trading session. Trading volume was above average under full influence of sellers. This demonstrates the accumulation rate of sellers yesterday.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/4KojCRO8Ck5ylBoKckfWXRSSGax4Osv3Mb6N3WuRu_RDkmTqIMl8WkU7l0Iryjr-S-5WvCsPMEBZP_wupcjyhT8yfTA_d7otMY6K3lyK6fW5_Ud1zv0ygif6SttDbHt3acvwTLRkqMlqy9R79C6i2pY" alt="Nio Inc. - ADR: Elon Must be Affecting NIO Stock Price, NIO Down">
  <figcaption class="wp-element-caption">
   Source: NYSE: NIO by <a href="https://www.tradingview.com/x/tqSEUqVA/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>NIO stock price declined from an important support level and is currently moving towards secondary support. However, NIO stock price may get support from the lower level to rebound from the $8.00 mark. Meanwhile, Nio share price is below the 20, 50, 100 and 200-days daily moving averages. NIO shares needs more buyers in order to surge towards the horizontal range-bound area.</p>
<p>NIO stock price slipped from the horizontal range-bound area on Wednesday and slipped further yesterday. However, NIO may get support from the $7.35 mark to rebound and get back inside the consolidation phase.</p>
<p>Technical indicators suggest the downside trend of <a href="https://www.thecoinrepublic.com/2023/09/07/nio-stock-will-nio-inc-adr-stock-price-break-10-or-recover/" rel="noopener noreferrer nofollow">NIO shares.</a> Relative strength index (RSI) shows that NIO stock price is about to be oversold. RSI was at 32 and is moving towards the oversold territory. Investors in Nio Inc. – ADR (NYSE: NIO) need to wait for any directional change over the daily time frame chart.</p>
<h4 class="wp-block-heading"><strong>Summary</strong>&nbsp;&nbsp;&nbsp;</h4>
<p>Low earnings by Tesla (NASDAQ: TSLA) is affecting other EV manufacturers like NIO, as NIO share price also slumped yesterday. Nio is promoting itself as “Tesla of China”. However, NIO stock price may get support from the lower level to rebound from the $8.00 mark. Technical indicators suggest the downside trend of NIO shares.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $7.35 and $7.01</p>
<p>Resistance Levels: $8.05 and $8.90</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<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.&nbsp;&nbsp;&nbsp;&nbsp;</p>

Nio Inc. – ADR: Elon Must be Affecting NIO Stock Price, NIO Down

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