NIO: Downside towards 30$ Support level
Market Correction underway for all over stock market worldwide, World Exiting with Pandanmic and we could see the real value of market coming months with economic data, currently market overvalues special Tech company. But long term TSLA AND NIO strong bullish.
Nio, China’s leading challenger to Tesla, warned that battery and chip supply constraints would limit production as the electric vehicle maker tries to sustain sales growth amid fierce domestic competition.
China's Nio Inc posted a wider-than-expected loss and flagged a slowing pace of deliveries for its electric vehicles (EV) in the current quarter, sending its U.S.-listed shares down 7% in extended trading. Nio, which makes the ES8 and ES6 electric sport-utility vehicles, said it expects to deliver 20,000 to 20,500 vehicles in the first quarter - up 15% to 18% from the fourth quarter. The forecast, however, is slower than the 42% growth it reported between the third and the fourth quarter, in line with a seasonal slowing in auto sales in China. (Source Yahoo)
🛑SUPPORT/RESISTANCE
✅S1= 40$
✅S2=31$
✴️R1=48$
✴️R2=63$
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Nio, China’s leading challenger to Tesla, warned that battery and chip supply constraints would limit production as the electric vehicle maker tries to sustain sales growth amid fierce domestic competition.
China's Nio Inc posted a wider-than-expected loss and flagged a slowing pace of deliveries for its electric vehicles (EV) in the current quarter, sending its U.S.-listed shares down 7% in extended trading. Nio, which makes the ES8 and ES6 electric sport-utility vehicles, said it expects to deliver 20,000 to 20,500 vehicles in the first quarter - up 15% to 18% from the fourth quarter. The forecast, however, is slower than the 42% growth it reported between the third and the fourth quarter, in line with a seasonal slowing in auto sales in China. (Source Yahoo)
🛑SUPPORT/RESISTANCE
✅S1= 40$
✅S2=31$
✴️R1=48$
✴️R2=63$
Please like, share, comments and follow me to get a daily base analysis.
Thank you for your support, I appreciate it.
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