$NIO is a Serious Technical Breakout

TechnicalHunter
2024-09-06

$NIO Inc.(NIO)$ day chart:

@ACInvestorBlog@ACInvestorBlog

$NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $1X NIO(NIO.UK)$ weekly candle is now above the weekly MA30 which is something that stage analysis suggest determine if the stock is in a uptrend or not.

If you look at the price action since 60$ you can see that the price has failed to stay above it.

And the weekly RSI is right at 50, it has failed to break and stay above it since 2021 (unless the july rally last year)

@Eagleinvestor_@Eagleinvestor_

Can it break above it going forward?

NIO Issues New Shares: Is It Still Worth Investing?
NIO's US pre-market shares plummeted sharply, currently down nearly 7%. The company plans to issue shares at a price of HK$29.46 per share, offering up to 118.79 million Class A ordinary shares. The company intends to use the net proceeds from the stock placement for the development of smart electric vehicle technology and new products. Other China EV companies have successfully transformed, especially Xpeng, which has risen 70% this year. Is NIO still worth investing in? Will its stock price drop below the previous low? What is your target price?
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