Nio stock price has slipped around 21.81% in the last month and around 6.27% year to date over the charts. This shows the decline of NIO shares and the thrashing hopes of NIO investors. However, after the release of Q4 earning reports of Nio Inc stocks. Nio share price has claimed some promising records suggesting return of NIO stocks to upper level.
However, NIO shares tried to surge out of the previous consolidation phase but couldn’t sustain at the upper price range and started rallying downwards. Which led the NIO share price to slump below the consolidation phase. This time reports also suggest that NIO stock price looks prepared to return back inside the range and register its breakout.
Nio stock price was at $9.57 and has gained 5.28% of its market capitalization during Friday’s trading session. Analysts believe that NIO shares might continue its uptrend by the opening of Monday’s trading session. Trading volume has also surged above average with a total of 60.775 M by Friday’s Trading session.
Nio stock price needs to sustain at the lower trend line of the horizontal range-bound area to continue its rebound inside the consolidation phase. Meanwhile, volume change can be seen above average showcasing the accumulation rate of buyers during the previous day’s trading session.
NIO share price needs to maintain the buyers’ accumulation rate on Monday’s trading session for NIO to retain its position. In order to initialize its recovery phase NIO stock price needs to surge towards the upper trendline of the horizontal range. However, NIO stock price has entered the consolidation phase which is in the price range of $9.50 to $12.50.
Roadmap for Nio Stock Price to be $20 by Fib-Retracement
Nio stock price needs to go through some interesting levels in order to recover above $20 hints Fib retracement. Fib retracement has highlighted some levels to be attained by NIO shares during 2023 and initiate its recovery.
Nio stock price (NYSE:NIO) needs to overcome the first milestone which is above $12.50 and needs to sustain there for a while to maintain its recovery phase till mid 2023.
Afterwards, NIO share price must break the level of $15.21 that is basically the second milestone according to the Fib retracement. Then NIO shares might reach the $20 recovery level by passing the other remaining third and fourth milestones at $17.30 and $19.40 respectively.
Nevertheless, investing in stocks comes with a greater risk and would suggest if you are a risk-loving trader then there might be a shot to stake NIO shares as they might be somewhere else by the end of 2023. Predictions can be made through analysis and some speculations but real trading includes some self analysis also so trade cautiously.
Nio Inc (NYSE:NIO) Technical Analysis
Technical indicators suggest the upside trend of NIO share price. Relative strength index showcases the uptrend momentum of NIO stock price. RSI was at 40 and is moving towards neutrality to be overbought. MACD exhibits the upward velocity of NIO share price.
The MACD line is marching towards the signal line for a positive crossover. Investors in Nio Inc stocks need to wait until the NIO share price breaks out of the consolidation phase to reach a $20 recovery level.
Summary
Nio stock price has slipped around 21.81% in the last month and around 6.27% year to date over the charts. This time reports also suggest that NIO share price looks prepared to return back inside the range and register its breakout. Meanwhile, volume change can be seen above average showcasing the accumulation rate of buyers during the previous day’s trading session.
Fib retracement has highlighted some levels to be attained by NIO shares during 2023 and initiate its recovery. Technical indicators suggest the upside trend of NIO share price.
Technical Levels
Support Levels: $8.75 and $8.35
Resistance Levels: $10.50 and $12.50
Disclaimer
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 stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/03/05/why-nio-stock-price-nysenio-gains-after-q4-earning-report/