We've seen $NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$ try to breach the 200-day MA before unsuccessfully.
But this time it's doing so with the wind to its back after that strong 2Q24 and positive outlook.
Same-same... but different.
Take note that the China Passenger Car Association just reported NEV sales surged 43% YoY and 17% MoM in August.
China's NEV penetration rate on new car sales hit a record high of 53.9%.
$XPeng Inc.(XPEV)$ $XPENG-W(09868)$ $Li Auto(LI)$ $LI AUTO-W(02015)$ $BYD Co., Ltd.(BYDDF)$ $BYD COMPANY(01211)$ $Tesla Motors(TSLA)$ $Geely Automobile Holdings Ltd.(GELYF)$
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https://x.com/BrianTycangco/status/1833336650648400299
NIO Jumps 15% Post-Earnings! Will the EV Giant Break $5?
NIO's revenue for Q2 2024 reached 17.45 billion RMB, compared to 8.77 billion RMB in the same period last year. After NIO released its financial report, the stock rose by 15% yesterday.
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Will NIO finally rebound?
Is it a breakout possible?
Would you add at $5?
Are you still holding NIO?
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