100s of titles, one news app for just $10 a month.
Dive Deeper:
Is Bitcoin Oversold?
Bitcoin (CRYPTO: BTC) fell to the $35,255 level on Friday before bouncing higher in tandem with the general markets, which the…
What's Going On With Nio Shares Today?
Shares of Chinese companies, including Nio Inc - ADR (NYSE: NIO), are trading lower. Concerns over COVID-19 cases in China,…
Nio Announces Secondary Listing In Singapore Amid Fears Of US Expulsion
U.S. listed Chinese electric vehicle maker Nio Inc (NYSE: NIO) on Thursday announced plans for a secondary listing of its Class A…
Dogecoin Narrowly Escapes The Dog House, Charges Toward A Trend Change
Dogecoin (CRYPTO: DOGE) popped up over 4% higher on Wednesday, in tandem with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), whi
One subscription that gives you access to news from hundreds of sites
Why Apple Shares Are Rebounding
Apple, Inc (NASDAQ: AAPL) opened lower on Friday and quickly lost short-term support at Thursday’s low-of-day and fell to a…
Why Alibaba's Stock Look Set To Bounce
Alibaba Group Holding, Ltd (NYSE: BABA) was trading over 4% lower on Friday, after gapping down slightly to start the…
Get all your news in one place
Latest Business news:
Survivor, Bachelor in Paradise, Love Island: How Fiji is cashing in on reality TV favourites
Fiji is a small nation looking for big investment and it is working hard to make film and reality television…
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
The Stats Guy: What does tourism in Australia look like now that travellers are returning?
The tourism sector is preparing for a comeback. So, what is the state of play in the sector and what…
Tech’s High-Flying Startup Scene Gets a Crushing Reality Check
Job cuts and a sour investment climate are hitting big companies like Stripe and Instacart, and may slam smaller ones…
Has crash in stablecoins slowed down sales in NFTs?
According to CrytoSlam data, so far in May, sales in NFTs stand at $2.4 billion with a total transaction of…
Fraud alert! AI identifies the four stages of a scam phone call
Australian researchers have used machine learning techniques to identify the typical four stages of fraudulent money-taking phone calls.
From analysis to good news, read the world’s best news in one place
Do Walmart and Target Have an Inventory Problem?
Ark Investing's Cathie Wood thinks so and this could be good for consumers, but maybe not investors at least in…
How an Energy Expert Triggered Vladimir Putin With One Word
Daniel Yergin was at the St. Petersburg International Economic Forum in 2013 when he got a daunting request: Could he…

Is Nio Oversold?

By Melanie Schaffer

Nio, Inc (NYSE:NIO) fell 6% to the $14.46 level on Friday before bouncing up to trade flat to Thursday’s closing price.

Nio’s relative strength index (RSI) is measuring in at about 35%, which puts the stock near oversold territory.

RSI is an indicator technical traders use to measure bullish and bearish price momentum. RSI levels can range between 0 and 100, with levels between 30 and 70 generally considered to be healthy.

When a stock’s RSI falls below the 30% leve,l it's considered to be oversold. When a stock enters oversold territory, it indicates the securities price no longer reflects the asset's true value, which can signal a reversal to the upside is in the cards.

When a stock’s RSI rises above the 70% area, it is considered to be overbought. When a stock enters overbought territory, it signals the securities price is elevated to its intrinsic value, which can signal a reversal to the downside is on the horizon.

RSI is best used when combined with other signals and patterns on a stock chart because stocks can remain in oversold and overbought territory for an extended period of time before reversing.

Want direct analysis? Find me in the BZ Pro lounge! Click here for a free trial.

The Nio Chart: Nio negated a small uptrend on Thursday, when the stock printed a lower low under the most recent higher low of $16.40, which was formed on May 2. On Friday, the stock dipped lower but found support near the $14.40 level and bounced north.

  • If Nio closes the trading day above about the $15 level, the stock will print a hammer candlestick on the daily chart, which could indicate a bounce up to at least print a lower high is on the way. If the stock closes the trading day near its low-of-day price, it could indicate lower prices will come on Monday.
  • Nio has resistance above at $16.75 and $20.25 and support below at $14.31 and at the 52-week low of $13.01.

See Also: Chinese Analyst Who Projected Bearish Reports On Alibaba And Other Chinese Stocks Returns To Twitter

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.

Dive Deeper:
Is Bitcoin Oversold?
Bitcoin (CRYPTO: BTC) fell to the $35,255 level on Friday before bouncing higher in tandem with the general markets, which the…
What's Going On With Nio Shares Today?
Shares of Chinese companies, including Nio Inc - ADR (NYSE: NIO), are trading lower. Concerns over COVID-19 cases in China,…
Nio Announces Secondary Listing In Singapore Amid Fears Of US Expulsion
U.S. listed Chinese electric vehicle maker Nio Inc (NYSE: NIO) on Thursday announced plans for a secondary listing of its Class A…
Dogecoin Narrowly Escapes The Dog House, Charges Toward A Trend Change
Dogecoin (CRYPTO: DOGE) popped up over 4% higher on Wednesday, in tandem with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), whi
One subscription that gives you access to news from hundreds of sites
Why Apple Shares Are Rebounding
Apple, Inc (NASDAQ: AAPL) opened lower on Friday and quickly lost short-term support at Thursday’s low-of-day and fell to a…
Why Alibaba's Stock Look Set To Bounce
Alibaba Group Holding, Ltd (NYSE: BABA) was trading over 4% lower on Friday, after gapping down slightly to start the…
Get all your news in one place