Nio News

Markets are jittery this week, with investors taking more cautious positions due to the US elections. Below, we look at what this means for Lloyds, Tesla and Nio stock prices. Lloyds Lloyds share price has been on a recovery path in the last two trading sessions, attempting to undo the damage caused by concerns over motor finance scandal. Lloyds' stock lost 1.3 percent of its value in the last five sessions, and ended the last two weeks in losing positions. However, the stock signaled a potential rebound and was up by 2 percent on the daily chart at the time of this writing. As the UK's largest motor financier through its Black Horse division, Lloyds Bank (LSE: LLOY)is the most exposed to potential onslaught of refunds and compensation claims from borrowers. In addition, the bank could suffer from reduced income from the motor finance division after the UK Court of Appeal ruled against discretionary commission agreements with vehicle sales agents in late October. However, Lloyds had already set aside £450 million to cushion itself from potential claims. Also, FirstRand and Close Brothers have announced that they will appeal the court decision. Therefore, this may help calm investors' nerves in the near-term. Lloyds share price prediction As seen on the chart below, Lloyds share price is likely to head up if the action stays above 55.40. Initial resistance is likely to come at 55.70, but a stronger upside momentum could break above that level to test 55.90. On the downside, moving below 55.40 will favour the sellers to be in control. If that happens, the first suspport could come at 55.00. However, a stronger downward momentum could break below that level to invalidate the uspside narrative and test 53.78. Tesla Tesla share price has been on a steep decline in the last five sessions, reversing more than half of the gains realised since its October 23 earnings call. As of this writing, Tesla (NASDAQ: TSLA) share price has gone down by 2 percent, underlining a bearish undercurrent that could be exacerbated by the outcome of the US elections. Tesla CEO, Elon Musk took a huge gamble by endorsing Donald Trump, and even went as far as announcing a controversial financial incentive to get more people to vote. The company has shifted its focus from being a pure car manufacturer, to an AI-centric tech company of some sort. The We, Robot event in which it unveiled its autonomous Cybervan and Cybercab, and a humanoid robot underline this shift. Autonomous driving is Tesla's next major growth front, and it will need approvals from state and Federal regulators. Therefore a loss by Trump could potentially slow down Tesla's autonomous vehicle roadmap. While the regulators are largely viewed as impartial, the market perception of a Trump loss could potentially have negative impact on Tesla share price. Conversely, a win by Trump could inject significant upside propulsion into TSLA. Tesla share price prediction Tesla share price will likely continue going downwards if resistance persists at 242.80. With that, the first support could come at 245.25. However, if the sellers strengthen their momentum, it could break the first support and test 248.90. Alternatively, the a move above 242.80 will signal the onset of bullish control. That will likely encounter the first hurdle at 241.05, but a stronger upward momentum could break above that level. If that happens, the downside narrative will be rendered invalid, and stock price could extend gains to test 238.80. Nio Nio share price had a steep decline in late October, and it lost 11.6 percent of its value in the last five trading sessions. However, the company's New York-traded shares were up by 2.1 percent on Monday as of this writing, as investors reacted to impressive October sales figures. Nio sold 20,979 vehicles last month, including 4,319 units of its newly-launched Onvo L60 SUV model. The sales numbers were a 30.5 percent growth year-on-year for the month, but an 18.4 percent decline from September's numbers. However, by maintaining the strong growth this year relative to 2023, Nio has proven that it could soon start reporting profits. In addition, the strong show by Onvo in its first full month of sales signals its strong growth potential. Meanwhile, the company has announced an incentive program valued at up to $9,700, which could boost sales significantly in November. On the technical front, a reversal to the upside above the psychological $5.00 support is a significant boost. That said, Nio's current price is still below the 20 and 50 Exponential Moving Average (EMA) levels on the daily chart, signaling that it could struggle to build upside traction. Nio share price prediction Nio share price will likely stay on the upside trajectory if action is maintained above the 5.19 pivot. The asset will likely encounter the first resistance at 5.23, but extended bullishness could break above that level to test 5.29. On the other jand, moving below 5.19 will put the sellers in control. In that case, the first support is likely to be at 5.14. Below that level, the upside narrative will be invalidated, and the stock price could test 5.10.

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