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Benzinga
Benzinga
Business
Melanie Schaffer

Here's Why Nio Stock Could Charge 20% North If The Trend Continues

NIO

Nio Inc - ADR (NYSE:NIO) opened higher on Thursday but a lack of bullish momentum caused the stock to reject near Wednesday’s high-of-day and begin to sell off slightly.

A retracement to the downside, or at least a period of consolidation, is needed because Nio has soared about 25% higher in an uptrend over the last four trading days within printing a higher low on the daily chart.

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