Hello Traders and welcome to AAATrade’s Intraday Technical Analysis session.

Today’s instrument is the NIO company, a Chinese electric vehicles manufacturer and seller, whose ADR stock is traded in NYSE under the ticker NIO.

Looking at NIO’s chart, we can see that it has been in a downtrend, and it was lastly traded at around $7.80. Today it is announcing its quarterly earnings and if the market’s anticipation is positive then we could see the price reach higher levels, at around $8.80-9.80. On the other hand, it should test its 52W low at $7.

From all of us here, we wish you a Happy Friday, and as always, a successful and responsible trading.

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