$NIO NIO Inc Stock Robo Analyst October 19 2020 #NIO

NIO Inc (NIO) “On a long-term technical basis, the stock (NIO) is trading above its 200-day moving average which generally implies it is in a positive trend.

The stock has support at 22.59 and 21.05. If the stock breaks down through support at 22.59 then it will probably continue lower to 21.05. The stock will meet resistance at 29.44 and 31.06. If the stock breaks up through resistance at 29.44 then it will probably continue higher to 31.06. The 200-day moving average is at 9.43. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (84.11), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”