NIO Stock Price: NIO Inc. treads water below $14.00
- NIO Inc. (NYSE: NIO) hovers around Monday’s close near $14.00.
- Upbeat mood still prevails among traders in the EV sector.
Shares of electric vehicle (EV) maker NIO Inc. (NYSE: NIO) are expected to open Tuesday’s session around Monday’s close near the $14.000 mark.
NIO Inc. (NYSE: NIO) came under pressure at the beginning of the week after hitting all-time peaks near $14.50, closing the session with nearly 8% losses in the $13.80 region.
Shares of the EV sector appears to be among investors’ preferred assets in past weeks, as opposed to traditional car manufacturers, who continue to bear the brunt of the coronavirus pandemic.
When comes to benefits for the EV makers, it is usually mentioned the emission rules (expected to grow in strictness), the omnipresent and also growing in importance issues surrounding the climate change and last-word technology among others.
NIO News Today
As of writing NYSE: NIO is down 1.88% at $13.19 and faces the next support at $7.90 (monthly high Jun.22) seconded by $5.98 (200-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.
