Saad Ullah
Chinese electric vehicle manufacturer NIO has captured Wall Street's attention with a remarkable surge that's put the stock back on traders' radars. After months of sideways action, this sudden breakout has many wondering if we're seeing the start of a bigger recovery story.
NIO Price Delivers Explosive Rally
NIO's recent run has been nothing short of spectacular. The stock jumped 40% in just six sessions, breathing new life into what many considered a beaten-down EV play.
Market technician @gunter_gresch notes that NIO's weekly chart looks increasingly bullish, with the stock bouncing cleanly off key Fibonacci levels. This technical setup suggests there could be more upside ahead.
Here's where things stand:
- Current price sits at $6.70
- First target: $7.60 (matching the 1.0 Fibonacci extension at $7.68)
- Bigger target: $9.50 (a major resistance zone)
- Support levels: EMA 8 and SMA 44 both at $6.53
- Volume surge: Over 302 million shares traded, showing serious buying interest
The weekly moving averages are also painting a bullish picture, with key indicators crossing over to the upside.
NIO Price Outlook
If this momentum holds, breaking $7.60 could unlock a run toward $9.50, with some analysts eyeing $10.50 as an extended target based on Fibonacci projections.
The downside risk? If NIO loses the $6.50 support level, we could see a pullback to the $5.70–$5.00 range. But for now, the technical picture looks solid, and NIO has reclaimed its spot as one of the most watched names in the EV space.
Saad Ullah
