$NIO Inc.(NIO)$ $NIO-SW(09866)

$NIO Inc.(NIO)$ $NIO-SW(09866)$ With China ramping up its stimulus efforts, I see a lot of upside potential for NIO. The stock is currently hovering around the 23.6% Fibonacci retracement level and staying above the 25-day and 50-day moving averages. This sets the stage for a potential recovery in the upward trend. I believe the first target could be around $7.70. If things go well, we might see a nice bounce back soon!

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