[Strong]
NIO: Buy The Bottom
Or buy NIO now, below $10 a share, as the stock is likely in the early stages of a long-term recovery. I want to own this stock now for several reasons. NIO became highly overvalued and significantly overbought in late 2020 and early 2021. The Chinese bubble burst around the same time, and NIO's stock declined by a staggering 90% in about two and a half years. With NIO's stock bouncing around rock bottom, it is an excellent time to initiate a position or add more shares. Technically, NIO's long-term trend is improving. The stock likely bottomed, as we've seen the RSI making higher lows, and the 50-day MA will probably cross above the 200-day MA soon. This dynamic implies that NIO's stock is stabilizing, momentum is improving, and the stock could be in the opening stages of another significant move in the coming years. Robust Earnings Despite the Transitory Slowdown Most of NIO's sales still come from China, and the country faced significant issues with COVID-19. Harsh government lockd
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