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Benzinga
Benzinga
Business
Melanie Schaffer

Is Nio's Stock Headed To $83? Here's A Look At The Technicals

NIO

Nio, Inc (NYSE:NIO) was trading about 3% higher on Friday, etching out two possible bullish patterns on the daily chart.

On Wednesday, Credit Suisse analyst Bin Wang maintained an Outperform rating on the Chinese EV manufacturer and slapped a whopping $83 price target on the stock, citing his expectation Nio’s sales volume climbs to 150,000 units this year after it begins delivering the ET7 sedan on March 28.

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