🎁$NIO See Positive 200-DMA Breakout, Sign of Bullish？
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On Tuesday's trading, $NIO Inc.(NIO)$ was trading above its 200 DMA for the first time since September of 2022.
Editor's notes:
200-DMA（or SMA） are an widely used key indicator by traders and market analysts for check long term support or resistance price for a stock.
The 200-day seems, at times, to serve as an uncanny support level when the price is above the moving average or a resistance level when the price is below it.
As a very long-term moving average, the 200-day SMA is often used in conjunction with other, shorter-term moving averages to show not only the market trend but also to assess the strength of the trend as indicated by the separation between moving average lines. For example, comparing the 50-day SMA and 200-day is relatively common.
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Do you have interest in $NIO Inc.(NIO)$ ?
Do you believe the potential bullish bat pattern still on track on $NIO Inc.(NIO)$ ?
Compare to other star EV star companies like $Tesla Motors(TSLA)$ (YTD 2023 is 118.87%), $Li Auto(LI)$ (YTD 2023 is 75.74%), $Rivian Automotive, Inc.(RIVN)$ (YTD2023 is 38.43%), do you believe $NIO Inc.(NIO)$ would see higher target price?
What's your target price for $NIO Inc.(NIO)$?
Share your special comments on $NIO Inc.(NIO)$ to win tiger coins.
Some other insights from Twitter
Source: ancient warrior @twitter
Source: Harmonic Patterns @twitter
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NIO Inc. stock has been on a gradual uptrend over the past month, gaining almost 20% in value despite ongoing challenges in the pricing environment and modest Q2 delivery volumes. Rising competition and a deteriorating macroeconomic environment in China are expected to worsen the challenges facing NIO's target premium segment in the near term. Delivery declines observed in Q2 relative to resilience observed at its mass market rivals also underscore a waning demand environment that prioritizes affordability. Looking ahead, re-acceleration in volumes - especially for the newly introduced NT 2.0 vehicles - will be a key value accretive factor to drive further upside potential and overcome near-term headwinds on profit margins.
If you have strong conviction, this may be a potential long-term opportunity [Happy]
@DiAngel @Fenger1188 @SR050321 @JC888 @Universe宇宙 @LMSunshine @Jo_Tan @KYHBKO @pete13 : let’s join [Grin]
Nio's share price is up almost 8% today and 28% in the past month. I am bullish on Nio with this latest news & its plan to double sales in 2023 with new product lineup. I believe it is undervalued and will go up exponentially in future.
@Trend_Radar