NIO: Abu Dhabi Deal Could Lead To Major Breakout (Rating Upgrade)

Andy Feng In light of a news release by electric vehicle company NIO Inc. (NYSE:NIO), relating to a major strategic equity investment of CYVN Holdings, NIO’s fundamental and chart situation has greatly improved. The news caused NIO’s stock price to increase by only 5% after NIO disclosed this investment, but the stock is gathering strength for a potential breakout above the 200-day moving average line. I think the deal is very significant for NIO as it is the first big deal that includes a major Middle  ...