Date of Report: September 25, 2024
Broker: CGS International Securities

Stock Overview

Company Name: NIO Inc
Last Price: 5.68

Investment Recommendation

NIO Inc is identified as a Technical Buy in the report with the following entry price levels and targets:

Entry Prices:

• 5.68
• 4.90
• 4.31

Stop Loss:

• 3.69

Target Prices

The report outlines several target prices for NIO Inc:

• Target 1: 6.60
• Target 2: 7.00
• Target 3: 8.10
• Target 4: 9.80

These targets indicate significant upside potential for NIO, making it an attractive investment opportunity for investors seeking growth.

Technical Indicators and Analysis

The report highlights several technical indicators that signal a bullish continuation for NIO Inc:

1. Breakout from Downtrend: The stock has broken out of its downtrend line and formed a bullish flag pattern with strong volume.
2. Double Bottom Formation: The potential for a double bottom formation is increasing, further supporting a bullish reversal.
3. Positive Momentum: Prices are trending above all Ichimoku indicators, indicating strong momentum.
4. MACD and Signal Line: The MACD histogram is positive, and both the MACD and signal line are rising after a crossover.
5. ROC Indicator: The 23-period Rate of Change (ROC) has risen above the zero line, supporting bullish momentum.
6. Stochastic Oscillator: The oscillator is above the 50-level, further confirming bullish momentum.
7. Directional Movement Index: This indicator confirms the strength of the bullish trend.
8. Volume Expansion: The volume is showing healthy expansion, signaling strong investor interest.

Company Description

According to Bloomberg, NIO Inc manufactures and sells electric vehicles and related parts. The company also provides battery charging services and serves customers worldwide.

Analyst Information

Analyst:
CHUA Wei Ren, CMT
T: (65) 6210 8612
E: weiren.chua@cgsi.com