Shares of electric car maker NIO Inc (NIO) are hammering on a major support trend line at $42.15. This support level is found by connecting the previous low pivots from November 2020 and February 2021. As long a NIO holds this level, the stock can bounce. If price closes below $42.15, look out below. The stock could see declines to the daily 200 moving average at $30.00.
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