$NIO Inc.(NIO)$ Nio's stock jo

Nio's stock journey:

IPO at $6.28 in 2018, peaked at $62.84 in 2021, now around $5,60/share.

Enterprise value peaked at $91.4 billion, now $10billion.

While the stock has lost 41.2% since new year, there is light at the end of the tunnel as the stock is in oversold territory and January sales expected to be better than predicted earlier.

* RSI finding support at trendline from 2019

* Sentiment about to change as stock is in oversold territory

* Price is at the price area where NIO corrected before it took of in 2020

NIO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises.

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