NIO: Where is the support price ? Strong support at USD 9.40 - USD 9.50
It has been months since Nio has peaked at 66.990 in Jan 2021 and reached its lowest at USD 8.375 on 24th October 2022. As can seen from the 4 hourly chart, Nio is having strong support around 9.40-9.50. Since the launch of NIO Europe plant in Hungary in 16th Sept 2022 and delivery of ET7 starting in October, the share price of NIO not only not surging but moving in the opposite direction. However, it is still having Tencent, Baillie Gifford, BlackRock, Vanguard Group, Inc to name a few still holding almost 20% of the stake. It is believed that following the expansion of delivery in Europe and massive charging points in Europe (approximately 380,000), it is getting acceptance from the Western countries and a strong rebound is expected in Q4 2022. ...