Nio

Global stock ,markets came under pressure last weeks renewed concerns over the trajectory of the US economy took centrestage. The highlight of the week was the Non-Farm Payrolls data release, which fell below forecasts for the second month in a row. However, with the US unemployment rate falling marginally by 0.1 percent in August, and the Fed expected to announce an interest rate cut in the next week, there is cautious optimism that a recession could be avoided after all. With market confidence likely to pick up in the coming days, Nio share price is at a vantage position to leverage renewed optimism around the company's performance. On the other hand, Tesla stock price is keeeping investors in a sort of suspense with mixed signals all over. Finally, Lloyds share price has slowed down recent days, but its baseline fundamentals remain strong. Below, we look at these stocks in greater detail. Lloyds Banking Group Lloyds Bank share price returned to the upside on Monday onthe heels of news that it had formed a joint venture with giant property developer Barrat in a £150 million home development project. The venture, which also incorporates the UK Government through its Homes Development agency aims to accelerate the pace of building in urban "brownfied" areas. Ultimately, the UK government aims to construct 1.5 million homes in the next five years. Lloyds bank stands to benefit significantly, thanks to its standing as a leading mortgage lender and this latest venture with Barrat, christened, MADE. That said, Lloyds share price has bearish undertones in recent days, with the price at -1.5 percent in the last five days and at -2.4 percent in September. Lloyds share price today The 30-minute chart below calls for the upside if Lloyds share price stays above GBX 56.96. With the buyers in control, look for the for the first resistance at GBX 57.44. However, if the buyers break above that mark, they could strenthen the upside momentum to test GBX 57.80. Alternatively, moving below GBX 56.96 will favour bearish control, with the first support likely to be at GBX 56.60. However, if the sellers extend their control, they could breach below that mark to test GBX 56.30. Tesla news Tesla share price received a boost following news that its August sales were the highest year-to-date. The EV maker sold 86,697 in August, up 16.9 percent from July, and +3 percent year-on-year. The sales spike was attributed to a rise in its sales in China. According to China Passenger Car Association , Tesla's sales rose by 37 percent in China, with 63,456 vehicles sold. The medium-term view for Tesla share price will likely drive on the sentiment surrounding the anticipated presenteation of the Robotaxi on October 10. Tesla issued updates on its Full Self Drive (FSD) milestones last week, indicating that it intends to roll out its AI-drived vehicles in China and Europe in the first quarter of 2025, pending regulatory approvals. That will also provide fuel for Tesla share price uptick. Tesla share price forecast As per the MACD indicator, the momentum on Tesla share price favours the upside above 215.15. With the buyers in control, the first resistance will likely be at 218.44. However, if the upside momentum strengthens, the buyers could break above the mark and test the second resistance at 220.70. On the other hand, a move below 215.15 will favour the sellers to take control, in which case the first support will likely be at 212.60. However, extended bearishness will breach that support, invalidating the upside narrative and potentially testing the second support at 210.00. Nio Nio share price has risen by more than 22 percent since its quarterly earnings release four days ago, and it holds much promise for further growth. The stock was up by 7.1 percent as of this writing, signifying a stong near-term momentum. The Chinese EV maker recorded a +143.9% year-over-year growth in sales in the second quarter of the year, while the margin per vehicle newraly doubled from 6.2 percent to 12.2 percent. However, the current Nio share price momentum is driven by the company's growth outlook, wherereby it expects to realise a 10-14 percent jump in deliveries for the full year, and a revenue growth of 3 percent. Furthermore, it has shifted its strategy by expanding its target market outside the luxury range to by lining up two cheaper models, the Onvo L60, which hit the store in September, and the Firefly, which will be available from Q1 2025 . Furthermore, the batery swapping business model is paying off, as customers increasingly opt to swap batteries rather than spend their time charging their EVs. Nio's retractable batteries have proven to be a hit among its customers, with more than half of the electricity consumed by its vehicles in China going to batterery swap customers. The company had 2,480 swap stations by mid-August, and revealed that it had completed 51 million swaps. Also, Nio (NSE: NIO) will be entering the Middle East market by the end of the year, and is also keen on expanding its reach across Europe. That said, the EU's move to raise tarrifs on EVs made in China to up to 37.6 percent could create a bottleneck for Nio in the Eurozone. Nio share price today On the chart below, Nio share price will likely stay on the upside trajectory above the pivot mark at 5.20. The bullish movement will likely encounter the first barrier at 5.50, but extended control by the buyers could break above that level and test 5.70. On the other hand, the RSI is at 81, deep within the overbought levels. That signals a potential selling pressure, and a move below 5.20 will favour the sellers to take control. In that case, the first support will likely be at 5.00. However, extended control could lead to a breach below that mark and invalidate the upside narrative. Also, that could extend declines to test 4.80.