NIO Stock Price: NIO Inc. keeps wobbling around $14.00

NIO Inc. (NYSE: NIO) extends the consolidation around $14.00.
Next target on the upside stays at Monday’s tops above $16.00.

Pablo Piovano FXStreet

Shares of NIO Inc. (NYSE: NIO) are poised to start Wednesday’s session on the negative footing around the $14.00 region.

Electric Vehicle (EV) manufacturer NIO Inc. (NYSE: NIO) managed to regain some buying interest on Tuesday following the negative performance at the beginning of the week despite recording new all-time highs beyond the $16.00 yardstick.

In the meantime, NIO Inc. (NYSE: NIO) is correcting lower during the premarket activity on Wednesday, in contrast with the generalized upbeat tone in the US benchmark indices, which remain propped up by rising hopes of a coronavirus vaccine and a strong recovery of the US economy.

Further news in the EV sector noted Chinese EV maker Li Auto Inc has filed for an IPO before the Securities and Exchange Commission (SEC). The Beijing-base company aims to raise at least $500 million.

NIO News Today

As of writing NYSE: NIO is down 1.06% at $13.94 and faces the next support at $7.90 (monthly high Jun.22) seconded by $6.19 (55-day SMA) and finally $5.65 (monthly high Jan.22). On the upside, the next hurdle aligns at $16.44 (all-time high Jul.13).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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