$NIO stock rose 3.2% to $21.88 on Tuesday. Nio reported Q4 earnings on March 24 that missed EPS estimates but beat on revenue. 6,000 new covid infections were reported in Shanghai by claymarkets stocks trading
Though NIO shares are down 31% year to date and have been in a downtrend for nine months, asstated on Tuesday, Nio stock sure seems like its gearing up for a reversal. As we wrote then: "[T]he price action between January 28 and March 15 demonstrated a lower low, but the Relative Strength Index over that same time period shows a gradual trend higher. Not always but often enough, a divergence between lows on the RSI and the pricementioned the importance of $21. That level is the pivot point.
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