Nio's stock declined in the intraday levels after the pivotal resistance of 23.94, while trading alongside the main downward short-term trend line, with negative signals from the RSI after reaching overbought levels, with positive support from the 50-day SMA, marking a final loss of 2.24%, or 50 cents, and settling at 21.86, with trading volumes surpassing 71.5 million shares, below 10-day averages of 80.6 million shares. 

The decline came after a report accused the company of overreporting its financial results, which Nio denied. 

Therefore we expect more losses for the stock, targeting the support of 17.77, provided the pivotal resistance of 23.94 holds on. 

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Expected trend for today: Bearish