Will NIO continue to stay above $9 in 2024 amidst Strong competition

On 23 December, Nio unveiled a flagship model, ET9 executive sedan, which is placed in the same class as Mercedes Benz's Maybach and Porsche's Panamera series. The model has self-developed technologies including semiconductors, equipped with Nio’s self-designed autonomous driving semiconductor, 900-voltage electric drive for fast charging and large cylindrical battery cells.

Nio is expecting this model to help to prop up their earnings as their profit have suffered from the price war and slowing car demand. Currently NIO is trading above $9 dollars?

Can NIO stay above $9 in 2024 as the EV market competition step up with development in AI and semi-conductors correlate to their development.

In this article, I would like to share the prediction that I have worked out to prepare myself on how I would be trading NIO in 2024.

NIO looks like it is going to have a pretty volatile 2024, with some months with pretty drastic decline in stock price.

For January 2024, NIO closes at $9.51 with a 6.3% change, with a monthly average of $9.37, with trading range between $7.82 and $11.20. NIO is expected to close at $9.13 in February 2024 with -4.0% change, with trading range between $8.40 and $9.86, and the monthly average expected to come in at $9.23.

After NIO suffered a decline in February 2024 due to lower sales and deliveries over the long festive holiday, NIO is expected to have a -15.0% change at closing price of $7.76 in March 2024, with trading range between $7.14 and $9.13. The monthly average for March would come in at $8.29.

April 2024 proved to be another month of decline when NIO close at $6.60 with a negative change of -14.9%, with trading range between $6.07 and $7.76. NIO finally saw a month of positive change in May 2024 after suffering more than 10% losses in March and April, closing at $6.85 with month average at $6.79. Trading range is between $6.30 and $7.40.

NIO continued to perform in June 2024 and it close with a 15.0% change at $7.88, the average for the month was $7.52, with trading range between $6.85 and $8.51. NIO maintained the 15.0% change in July 2024 as well with a close price of $9.06, this is after many months before it start trading above $9, with trading range between $7.88 and $9.78.

NIO begin to have a slight change of 0.9% in August 2024 with monthly average of $9.12, trading range is between $8.41 and $9.87. A better 3.7% change was seen for NIO in September 2024, while it closes at $9.48 with trading range between $8.72 and $10.24.

In October 2024, NIO has another 15% change when it closes at $10.90 with trading range between $9.48 and $11.77. NIO is expected to show a 3.8% change in November 2024 with close price estimated to be at $11.21, with trading range between $10.41 and $12.21.

NIO managed to close December 2024 at $13.01 with a 15% change with trading range between $11.31 and $14.05.

With this volatile price movement throughout 2024, it could also present opportunity to go in when NIO is doing its correction pullback.

We should look at the pullbacks as opportunity to take advantage of a low entry price, so NIO has some months which might present some opportunity, in March, April.

I will look out for any major news and events for NIO and update this prediction as and when possible. There might be opportunities as well.

Appreciate if you could share your thoughts in the comment section whether you think NIO would experience such volatility in 2024 and do you think there would be opportunities for trade.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.