Saad Ullah
NIO Inc. (NIO) has reached a critical technical milestone, closing at exactly $4.40, the level of its 200-day moving average. This point now acts as a key decision zone for the stock, with the potential to either trigger further upside toward $5.66, or retreat for a retest of lower support.
Volume surged to 116.14 million, signaling heightened interest as the price tests this long-term resistance-turned-support line.
NIO Price Reclaims $4.40 After Strong Rally
NIO stock posted an intraday high of $4.49 before settling at $4.40, directly at the 200-day MA. The breakout came after reclaiming the former resistance at $4.02, which now serves as the nearest support zone.
Earlier in the move, the price bounced from the 0.618 Fibonacci retracement at $3.56 and the 0.786 level at $3.32, completing a corrective phase and setting up for potential continuation higher.
NIO Price Prediction: $5.66 in Focus If Support Holds
If the $4.40 level holds as support in the coming sessions, the next bullish target lies at $5.66, in line with the 1.618 Fibonacci extension. This aligns with a potential wave (3) structure in Elliott Wave theory, which typically carries strong upside momentum.
However, if price fails to stay above the 200-day moving average, a pullback toward $4.02 remains a realistic scenario. Traders are watching closely for confirmation, with volume and trend direction likely to determine the next breakout or retracement.
Saad Ullah
