While this happened, JP Morgan upgraded its NIO Inc ADR [NIO] rating to an Overweight from a a Neutral in a research note published on September 06, 2024; the price target was increased to $8 from $5.30. JP Morgan also remained covering NIO and has increased its forecast on May 15, 2024 with a “Neutral” recommendation from previously “an Underweight” rating.
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Price Performance Review of NIO
On Tuesday, NIO Inc ADR [NYSE:NIO] saw its stock jump 1.75% to $5.23. Over the last five days, the stock has lost -6.94%. NIO Inc ADR shares have fallen nearly -42.34% since the year began. Nevertheless, the stocks have fallen -31.00% over the past one year. While a 52-week high of $9.57 was reached on 01/02/24, a 52-week low of $3.61 was recorded on 04/22/24. SMA at 50 days reached $5.21, while 200 days put it at $5.12.
Levels Of Support And Resistance For NIO Stock
The 24-hour chart illustrates a support level at 5.14, which if violated will result in even more drops to 5.04. On the upside, there is a resistance level at 5.34. A further resistance level may holdings at 5.44. The Relative Strength Index (RSI) on the 14-day chart is 41.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.73, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.72%. Stochastics %K at 6.81% indicates the stock is a buying.
How much short interest is there in NIO Inc ADR?
A steep rise in short interest was recorded in NIO Inc ADR stocks on 2024-09-30, dropping by -25.45 million shares to a total of 168.61 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 194.06 million shares. There was a decline of -15.1%, which implies that there is a negative sentiment for the stock.
