Nio Stock News and Forecast: Why is NIO stock trading higher?


  • NIO stock ends Wednesday higher to put in a three-day win streak.
  • NIO added another 1.2% on Wednesday to hit $22.17.
  • The Chinese EV stock remains a big loser year to date, down 30%.

Nio stock (NIO) edged higher on Friday despite some other retail interest stocks starting to reverse recent momentum gains. NIO has now gained for three straight sessions, although most gains are modest. By comparison, other retail interest stocks have exhibited their customary volatility with the likes of AMC and GME spiking before a collapse on Wednesday. NIO looks calm by comparison but remains well down on the year so far as high growth stocks and especially Chinese high-growth stocks fell out of investor favor.

Nio Stock News: Entering the phone business

NIO has been the subject of rumours for some time that it is preparing to enter the phone-making industry, and now a report from China's CNEVPost says this may be in the cards. NIO CEO William Li spoke on a talk show that this may be a possibility.

"We will look at this direction positively and are aware that getting the phone produced is easy, but building a good phone is challenging," Li said.

This is interesting but not significant from an earnings perspective any time soon in our view. In the same interview, the CEO also said Apple (AAPL) is the main competitor to look out for if they enter the car space. Recent news flow surrounding the Apple car project has not been positive, and it looks for now like the company is focusing on its core phone and tablet businesses.

Overnight news from Asia does not make for positive reading with Chinese shares under pressure across the board. China's manufacturing data for March was not good as the country battles with a covid surge. Numerous cities have been locked down or partially locked down. NIO is down 1% in Hong Kong.

Nio Stock Forecast: Inverted hammer at mid-swing

The move on Wednesday, while positive, does leave a bitter aftertaste. We have an inverted hammer candle. A long spike with the body much lower in the daily range. This is a reversal signal. NIO spiked higher but could not sustain the move and closed much lower than the intraday high. This is consistent with what is happening with other retail stocks. AMC and GME fell sharply on Wednesday. 

NIO stock chart

NIO stock chart, daily

The 15-minute chart below shows this in more detail. $22 is short-term support from the volume profile, and breaking below $21 sees a volume gap to $19.50. 

NIO stock chart

NIO stock chart, 15-minute

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD holds steady near 0.6250 ahead of RBA Minutes

AUD/USD holds steady near 0.6250 ahead of RBA Minutes

The AUD/USD pair trades on a flat note around 0.6250 during the early Asian session on Monday. Traders brace for the Reserve Bank of Australia Minutes released on Monday for some insight into the interest rate outlook. 

AUD/USD News
USD/JPY consolidates around 156.50 area; bullish bias remains

USD/JPY consolidates around 156.50 area; bullish bias remains

USD/JPY holds steady around the mid-156.00s at the start of a new week and for now, seems to have stalled a modest pullback from the 158.00 neighborhood, or over a five-month top touched on Friday. Doubts over when the BoJ could hike rates again and a positive risk tone undermine the safe-haven JPY. 

USD/JPY News
Gold price bulls seem non-committed around $2,620 amid mixed cues

Gold price bulls seem non-committed around $2,620 amid mixed cues

Gold price struggles to capitalize on last week's goodish bounce from a one-month low and oscillates in a range during the Asian session on Monday. Geopolitical risks and trade war fears support the safe-haven XAU/USD. Meanwhile, the Fed's hawkish shift acts as a tailwind for the elevated US bond yields and a bullish USD, capping the non-yielding yellow metal.

Gold News
Week ahead: No festive cheer for the markets after hawkish Fed

Week ahead: No festive cheer for the markets after hawkish Fed

US and Japanese data in focus as markets wind down for Christmas. Gold and stocks bruised by Fed, but can the US dollar extend its gains? Risk of volatility amid thin trading and Treasury auctions.

Read more
Bank of England stays on hold, but a dovish front is building

Bank of England stays on hold, but a dovish front is building

Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures