Nio heads firmly south - Analysis - 21-11-2022

Nio INC's stock fell in the intraday levels amid the dominance of the main downward trend in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.

Therefore we expect more losses for the stock, targeting the support of 8.38, provided it settles below 11.67.

Expected trend for today: Bearish