Nio (NIO)

Dec 8, 2021Trade Ideas

Nio (NIO) is accelerating again.

After dropping from about $40 to $30, the stock is just beginning to pivot higher from triple bottom support dating back to March. It’s also oversold on RSI, MACD, and Williams’ %R. From a current price of $33.12, we’d like to see NIO test $44, near-term.

Not only is the EV story still heating up, but the company is nearing NIO Day on December 18. Typically, the company makes key product announcements at these events.

In addition, the company just announced it delivered 10,878 vehicles in November 2021, a year over year jump of 105.6%. NIO delivered 80,940 vehicles year-to-date in 2021 in total, a 120.4% year-over-year increase.

Helping, Citi analyst Jeff Chung says NIO is oversold. “Nio has a strong product cycle into 2022, with three new products and three face-lifts to be launched, said the analyst, who believes the company will further gain market share. Chung keeps a Buy rating on the shares with an $87 price target,” as reported by

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