JIANG_LIM
08-23
$NIO Inc.(NIO)$ NIO has been on a tear the past few sessions, ran from ~$5.8 to ~$6.5 with huge volume. Momentum looks strong, but the RSI is now above 88 and stochastics are flashing overbought.

Technically, that’s a big red flag. Stocks can stay overbought for a while if hype continues, but usually it means we’re due for some kind of pullback or consolidation.

👉 Support zones I’m watching: $5.30. If the hype cools, that’s the area where price might settle.

👉 Resistance right now: around $6.70, if it breaks above there with volume, shorts may feel real pain.

I’m personally cautious here. Great for traders riding momentum, but risk/reward at these levels is looking less attractive unless you believe the ES8 launch hype will translate into sustained sales.

What do you guys think? 🚀 to $7+, or cooling off back to $5.5??

Hong Kong Stock Market Opening: HSTECH, XPeng, NIO, Xiaomi, Tencent, and Bilibili Performance
On August 22, the Hong Kong stock market opened with the Hang Seng Index rising by 0.4% and the Hang Seng Technology Index by 0.99%. Notable stock performances included XPeng up over 9%, NIO up nearly 6%, Xiaomi and Tencent up 1%, and Bilibili down 5%. Additionally, JD.com rose by 0.5%.
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