NIO Inc. (NIO) has turned sideways in recent weeks but let's drill down on the charts and indicators. In our last update of NIO back on July 9 we wrote that "If we knew what China will do and how traders will react, a recommendation would be easy. NIO closed off its lows on Thursday and that is a good sign. Follow-through buying today will improve things. Continue to hold longs risking a close below $40."
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