Strong

Resistance

Million

Simply

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NIO stock price was $8.79 with an intraday drop of 2.77%.</a> </li> 
 <li> <span>2</span> <a>NIO sto price fell from the level of $9.25 after earning release.</a> </li> 
</ul> 
<p>NIO stock price surged 8.92% this week as buyers are trying to breach the level of 50 EMA. However, the stock price took reversal from $9.25 after the earnings release.</p> 
<p>Moreover, the company has some pros and also has some risk factors involved in it. At the time of writing, the company was trading 39.9% below its estimated fair value and the revenue of the company was forecasted to grow at 27.85% per year. However, the company is currently unprofitable and the share price has been volatile for the past 3 months which is higher than 75% of US stocks.</p> 
<p>Simply Wall St. analysts’ growth forecast is that the annual earnings of the company will grow by 64.5%, industry earnings will grow by 21.0% and the market earnings will grow by 15.4%. Moreover, the company revenue is forecasted to grow by 27.9%, industry revenue to grow by 18.0% and market revenue would by 7.8%.</p> 
<p>Nio Inc. stock reported revenue of $1.25 Billion and a net income of -$872.06 Million with a profit margin of -69.79% which is not so good as compared to the previous quarter.</p> 
<h2 class="wp-block-heading" id="strong-will-nio-stock-price-reverse-back-from-the-lower-levels-strong"><strong>Will NIO Stock Price Reverse Back From the Lower Levels?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh5.googleusercontent.com/JzuHJWNZZk8XH0CJQ58Y7Sc-feZegM36yevz9QgcL7P1Xk09bCZTrcgdwdl7hkGj_-XWAQ9cBc-PXETC2P6iu49lvBF2rQHKFaWkxILrTzeiDw9d2r_dw1r9oQiyTWOMtm0hIDDyUdARoF8IosFC43g" alt="NIO Stock Price Jumps 8%; Is this the Comeback of NIO Stock?">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/YsemiTjm/">Tradingview</a>
  </figcaption>
 </figure>
</div> 
<p>NIO stock price halted near the value of $16.16, breaking below the key moving averages. However, the previous week buyers tried to attain the level of 50 EMA but failed in their attempt as the price took a rejection from the level of $9.25 after earning release and heading downwards.</p> 
<p>RSI is in bearish territory near the oversold zone. RSI is trading at 38.41 and the 14-day SMA is trading at 36.20 below the RSI curve. The RSI curve is giving a bearish outlook on the daily charts.</p> 
<p>MACD is currently in bearish territory below the median line. MACD curve is at -0.6573 points and the signal curve is at -0.6719 points giving a bearish outlook.</p> 
<h2 class="wp-block-heading" id="strong-analysts-take-on-the-nio-stock-strong"><strong>Analysts Take on the Nio Stock</strong></h2> 
<p>There is a mixed opinion among 35 analysts who follow NIO Inc <a href="https://www.thecoinrepublic.com/2023/09/01/nio-stock-nyse-nio-buy-sell-or-hold-nio-after-q2-earnings/">stock</a>. More than half of the 20 analysts rate NIO as a Strong Buy, while 4 give it a Buy rating. 9 of the analysts recommend holding the stock, and none of them advise selling it. Only 2 of the analysts have a Strong Sell rating for NIO.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img decoding="async" loading="lazy" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-53.png" alt="NIO Stock Price Jumps 8%; Is this the Comeback of NIO Stock?" class="wp-image-173201" style="width: 100%;height:440px" width="1170" height="440">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div> 
<p>NIO stock has an average price target of $13.13, which implies a potential increase of 49.40% from its current price of $8.79. The price targets vary from a high of $21.74 to a low of $7.12.</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>NIO stock price is currently in a bearish grip. Indicators like MACD, RSI, and EMAs are on the bearish side. However, the stock price probably took a reversal from the level of $7.04. As per the trading view, analysts also gave a good buy rating for NIO Inc. stock.</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3> 
<p>Support Levels: $7.04 and $7.83.</p> 
<p>Resistance Levels:&nbsp; $11.19 and $10.31.</p> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions</p>

NIO Stock Price Jumps 8%; Is this the Comeback of NIO Stock?

목차

Thecoinrepublic.com

2023년 10월 3일에 게재된 다른 기사

TaskOn Integration with Manta Network

Authenticity Under Siege: How User-Generated Content Can Distinguish Companies In The Age Of AI

In the middle of cryptocurrency’s turbulent waters, Idris Elba partners with the Stellar Developm...

Top 100 Cryptos of 2017: 27 Scams, 79 Will Never Update ATH, Analyst Says

Bitcoin Gets a Boost Amidst U.S.’s Alarming $33 Trillion Debt Concerns

Declining open interest in futures market contrasts Bitcoin’s bullish rally

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!