NIO stock jumps nearly 10% on Goldman upgrade! What’s next?

Oktober 07, 2021 23:31

Shares in NIO have been trending lower in recent months but that could change with a new upgrade from investment bank Goldman Sachs. Analysts at the firm believe the worst times are now behind the electric vehicle maker based in China.  

Investors certainly got excited on the news as the stock has jumped nearly 10% in the last few days. While the firm’s analysts increased its buy rating to ‘buy’ from ‘neutral’ the price target of $56 per share is still the same.  

This represents a move of nearly 50% higher.  

The analysts particularly like the fact that the newest model is the company’s first sedan product which has a price point in line with the Mercedes E-class and BMW 5 series. Furthermore, NIO is expanding into other countries such as Norway while adding another 120 retail locations this year.  

Source: Admirals MetaTrader 5, #NIO.US, Weekly - Data range: from 9 Sep 2018 to 8 Oct 2021, performed on 8 Oct 2021 at 8:30 pm GMT. Please note: Past performance is not a reliable indicator of future results.  

The huge surge higher in NIO’s share price during 2020 is clear to see. However, the price retraced aggressively back to the weekly 50 exponential moving average (red line). While the buyers have tried to stage a rally higher several times, the price hasn’t had any follow through.  

Could the Goldman Sachs upgrade of the stock be the trigger for further upside? It’s certainly one to watch! 

Did you know that you can find real-time, actionable trading ideas on thousands of markets from the Trading Central Technical Insight Lookup indicator in the Premium Analytics section of the Admirals Client portal area?   

Open an account and use the indicator to help you master the markets today.  


The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admirals’ investment firms operating under the Admirals trademark (hereinafter “Admirals”) Before making any investment decisions please pay close attention to the following: 

  • This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.  
  • Any investment decision is made by each client alone whereas Admirals shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.  
  • With a view to protecting the interests of our clients and the objectivity of the Analysis, Admirals has established relevant internal procedures for the prevention and management of conflicts of interest.  
  • The Analysis is prepared by an independent analyst, Jitan Solanki (analyst), (hereinafter “Author”) based on their personal estimations.  
  • Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admirals does not guarantee the accuracy or completeness of any information contained within the Analysis.  
  • Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admirals for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.  
  • Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved


Jitanchandra Solanki
Jitanchandra Solanki Financial Markets Author, Admirals London

Jitanchandra is a financial markets author with more than 15 years experience trading currencies, indices and US equities. He is an accredited Market Technician with a BA Hons degree.