Penny Stocks Analysis

NIO Stock Forecast 2021

NIO, Inc. (China) is a preserving company, which engages in the layout, manufacture, and sale of electrical vehicles, using improvements in next-generation technology in connectivity, independent using, and artificial intelligence. Its merchandise encompasses the EP9 supercar and ES8 7-seater SUV. The business enterprise offers users home charging, and power express valet carrier, and other strength solutions together with get entry to public charging, access to energy cell charging vans, and battery swapping. It additionally offers other fee-brought services which include service package deals, battery fee arrangements, and car financing, and registration code registration. The employer became based by Li Bin and Qin Li Hong in November 2014 and is founded in Jiading, China.

NIO Stock fundamental analysis:

We are looking at Nio stock on a tip ranks right now we’re looking at current price targets, we have a strong buy right here with eight by ratings, the average price targets 63.63. To be exact, the average of some of those price targets out highest target is 81. And the lowest target is $50. As we speak new is sitting just at that lowest target, just around 50.40 bucks at the time we’re writing this article. This is tip ranks.

So reason price targets cool to see Morgan Stanley and Citigroup and then even Bank of America. I mean, you’re talking about three of the biggest dogs in the space when it comes to putting out price targets for stocks. These are the actual these are firms, right? That you want to look at. You see some big names, for example, Bank of America, Morgan, Stanley, Citigroup, those are three big names right there that can help move stocks in those directions. Now, two months ago, that was Bank of America. We had two days ago, Morgan Stanley. So this past week, we have a Citigroup price target at $72. So what do we got to talk about with Nia? Well, of course, we had some of the delivery numbers. Of course, we have to talk about some of that. But of course, we got to talk about the stock’s reaction to that and why a very crucial level on the chart held up to be an area of resistance.

Okay, despite those numbers, okay. So if we take a look at some of the recent news in terms of what is going on, and we can show more news right here, go back a couple of days, Thursday morning and pre-market NIO stock popped on up after reported record and monthly deliveries for June 8083 vehicles for the month were delivered, which is up 116 2.1% from the same time one year ago. Again, we always talk about NIO stock, and we talked about these leverage numbers, you have to understand that, you know, when you’re talking about a year over year, yeah, you’re gonna see some significant numbers, we kind of expect that right.

NIO Stock Technical analysis:

Now they can dive through what those deliveries consisted of. But what ended up actually happening here with Nio stock? Well, we came up Thursday morning and hit 55.13. And then sold off completely, pretty much almost right back to 50 bucks the entire day, on Thursday, right back down that entire day. If you go to the five-minute chart, let’s take a look at what happened here. We scroll ourselves on out. So we can see this a lot better. We look at the five-minute chart Nio pushing up, they had those numbers released in pre-market the stock pops on up hits 55.25. And pre-market hits 55.30 in the market open, and then sells off and boom actually hits lows down to 50.26. So if you are someone who is day trading NIO stock, on the short side, or you know whatever, right, you’re talking about a move on this dock of about 9%. From the highs to the lows, which gives you plenty of range to play volatility, you can play options, people who play puts crushed in on NIO stock, if you have the wherewithal to play puts here on this play. Now stock kind of the same thing today pushing on up and then sold off hard at the open getting down to 4853. But why is there a line up here? We had that line from quite some time ago. And we zoom things out. That’s a key level on the chart. Why is that? Well, prior highs back at the end of 2020. And then if we look back to early 2021, that was near that held about support. So that’s telling us a key level and that’s $55 roughly so it was not surprising to see do cups of roughly $55 and then get rejected the downside. And now in terms of support, we have to watch areas down here towards 47 down towards about 45 that will be an area to watch as support because it was a prior area of consolidation for a couple of days. A couple of weeks before Neil made that jump in anticipation of those June numbers and then once we got the numbers, boom, sell-off, buy the rumor sell the news, pretty much your guys at its finest.

Now the markets are pretty green. So again, it’s not like NIO stock is following the overall markets. You know, so much the past two days after hitting 55 know you’re kind of seeing you know, it was pricing in the move, we got the move and now NIO stock pulled back a little bit from where it was. Now, if you go back literally just a week ago, NIO stock was sitting back down here and NIO stock is down around 45. And from that point to those highs, it’s up 20% which is substantial. So pull back about 10% not uncommon. You see this stuff happens all the time when it comes to a lot of stocks and we just got rid of that 55 we gotta put that line right back up there. We can’t leave that 55 because we need to make sure that we are watching that line going forward with Nio.

So we talked about the downside of talk about the upside, we gotta get back over 55 and when we get over that level, you have to see Nio hold above that. 55 so that it breaks through holes that regains that prior resistance to now be support and then makes its move on to the upside. But again, NIO stock has made quite the run the past month and a half or so from down around 30 bucks hitting up towards 55. That’s a substantial move, it would not be surprising to see a pullback and a consolidation before the next leg in the upward or potentially downward direction depending upon how things play out. So there you guys have it that is our update on Nio price target psychoanalysis things to watch out for over 55 this could get a nice shot up towards those highs up around 65 to 67. According to waves analysis, I believe that the NIO stock has made a correction wave with an ABC pattern, which has ended at 33.40 level. The next target should be breaking the previous high level at 66.99$. This should take few weeks to reach.

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