- Nio Inc (NYSE: NIO) banal value is adjacent to nan 52 week debased up of nan Q4 Earnings
- Nio Inc Q4 Earnings estimates stay antagonistic astatine $0.28 and nan gross estimate astatine $2.39B
- Technical indicators of nan NIO banal is bearish but nan RSI astatine 32 adjacent to nan overbought zone
Nio Inc (NYSE: NIO) banal value has formed an incomplete double bottommost shape and prices took downside reversal from nan 50 time EMA shows that nan bears are dominating connected nan higher levels but nan prices are adjacent to nan 52 week debased and immoderate surprises successful nan Q4 net will beryllium capable to trigger a short covering rally. In nan erstwhile convention NYSE: NIO banal value closed astatine $9.39 pinch nan intraday gains of 0.64% and marketplace headdress stands astatine $16.314B
Will Nio banal deed 52 week debased aliases witnesser short covering?

Nio Inc (NYSE: NIO) banal value is successful nan downtrend and slipping down by forming little debased swings shows that nan prices are into nan bear’s grip and does not show immoderate signs of turnaround.
In nan opening of January, Nio banal prices took a U-turn and gained immoderate affirmative momentum which had created a dream for nan bullish inclination reversal but unluckily prices were incapable to break retired of nan plaything precocious hurdle astatine $14.00 and witnessed monolithic trading unit from nan higher levels. Meanwhile, nan bulls person besides attempted to push nan value supra nan 50 time EMA but slow and dependable bears took complete nan power and succeeded to resistance nan prices successful nan downward direction. Therefore, $11.00 will beryllium acting arsenic an contiguous hurdle for nan bulls followed by nan adjacent hurdle will beryllium astatine $14.00 level. However, Nio Q4 net are scheduled connected March 1,2023 and if nan institution succeeds to meet nan Q4 estimates past we mightiness spot a chaotic short covering rally from support astatine $8.41 level.
On nan different hand, The method indicators of nan Nio banal for illustration MACD person generated a antagonistic crossover indicating bearishness to proceed for immoderate much clip whereas nan RSI astatine 32 adjacent to nan oversold area denotes prices mightiness spot short word alleviation rally successful coming fewer weeks.
Summary
Nio Inc (NYSE: NIO) banal value is into nan bears grip and bears are continuing their power connected nan higher levels but nan prices are very adjacent to 52 week debased and Q4 Earnings are besides astir to merchandise which is capable to trigger nan short covering from nan little levels. However, if nan institution posts disappointing Q4 results past it mightiness create problem for nan agelong word investors.
Technical levels
Resistance levels : $11.00 and $14.00
Support levels : $8.41 and $7.50
Disclaimer
The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational ideas only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.
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Andrew is simply a blockchain developer who developed his liking successful cryptocurrencies while his post-graduation. He is simply a keen perceiver of specifications and shares his passion for penning on pinch being a developer. His backend knowledge astir blockchain helps him springiness a unsocial position to his writing
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