NIO stock closed at $3.86 on the daily candle, extending a multi-week downtrend. Price sits below every major moving average with a stretched RSI and a Bollinger Band breach to the downside. Bernstein and J.P. Morgan have both cut targets, reinforcing the bearish technical picture.
Key takeaways
- NIO stock closed at $3.86, trading below the daily EMA20 at $4.41, EMA50 at $4.70, and EMA200 at $5.14.
- RSI14 at 25.72 on the daily chart signals deep oversold conditions, while the MACD histogram continues to widen negatively.
- Bernstein cut its NIO price target to $5 citing weak deliveries; J.P. Morgan downgraded the stock to Neutral on a weak demand outlook.
- A break below the…
