$NIO NIO Inc Stock Robo Analyst May 2 2020 #NIO

NIO Inc (NIO) “On a long-term technical basis, the stock (NIO) is trading above its 200-day moving average, but has broken through an important support level, which implies it is in a neutral trend.

The stock has support at 3.17 and 2.91. If the stock breaks down through support at 3.17 then it will probably continue lower to 2.91. The stock has resistance at 3.41 and 4.46. If the stock breaks up through resistance at 3.41 then it will probably continue higher to 4.46. The 200-day moving average is at 2.91. This will also act as support. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time for the stock, so be careful. Use caution during times like these, as the stock will be more volatile. Pay close attention to the Short-Term and Daily Opinion. The stock is slightly overbought according to the Stochastic Indicator (69.71).”