Nio tests $42 before closing. More upside coming!
$NIO Inc (NIO.US)$
Update July 29: After crashing as much as 9% on Tuesday, NIO shares staged a blistering 6.305 recovery rally on Wednesday. The NIO stock rebounded firmly from two-month lows of $38.66 and tested $42 before closing the day at $41.84. The relief rally in NIO came on the back of a dovish Fed outcome and conciliatory articles from the Chinese state-run media, which helped to calm nerves after the recent rout in China’s stock market. NIO has recaptured the $40 threshold, but it remains to be seen if the renewed upswing could sustain going forward.
https://www.fxstreet.com/news/nio-stock-news-and-forecast-why-is-nio-down-again-china-concerns-hit-across-the-board-202107271151
Update July 29: After crashing as much as 9% on Tuesday, NIO shares staged a blistering 6.305 recovery rally on Wednesday. The NIO stock rebounded firmly from two-month lows of $38.66 and tested $42 before closing the day at $41.84. The relief rally in NIO came on the back of a dovish Fed outcome and conciliatory articles from the Chinese state-run media, which helped to calm nerves after the recent rout in China’s stock market. NIO has recaptured the $40 threshold, but it remains to be seen if the renewed upswing could sustain going forward.
https://www.fxstreet.com/news/nio-stock-news-and-forecast-why-is-nio-down-again-china-concerns-hit-across-the-board-202107271151
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Ricky138 : yes, recovery in progress.