$NIO is a Serious Technical Breakout

Bottom Treasure
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?

XPEV, NIO & LI Earnings Out: Which One Is the Best Play?
NIO is still posting losses, with a Q3 net loss of ¥3.48 billion, though this marks a narrowing of over 30%. At the same time, the company’s overall gross margin reached 13.9%, the highest in three years, and both operating cash flow and free cash flow turned positive. This time, NIO not only expressed confidence in achieving profitability in Q4 but also set more ambitious targets, aiming for full-year profitability next year. Li Auto’s Q3 revenue fell 36% year over year, with a net loss of 624 million yuan. Its Q4 guidance came in nearly 30% below expectations.
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