Peter Smith
⬤ NIO shares are grinding higher after bouncing from the $4.30 zone, now testing their 50-day moving average around $5 as bulls try to reclaim momentum following the recent selloff.
⬤ The setup looks pretty straightforward here—price climbed roughly 16% off the lows and is now bumping into that moving average resistance. Just above sits a horizontal barrier near $6, which is the next real test if NIO can push through current levels.
⬤ Looking further out, there are additional resistance zones marked around $7.70, $9.20, and $9.60 based on where the stock reacted before. Some analysts are eyeing a potential run above $10 later this year, especially if NIO delivers what could be its first profitable quarter.
⬤ Why it matters: how NIO handles this 50-day moving average and the $6 resistance could set the tone for the next leg—either a continuation higher or another pullback if sellers step in at these technical levels.
Peter Smith
