Is it the right choice to buy nio now?

The decision to buy NIO shares should be approached with caution. Here's why:

1. Current Price and Recent Performance: As of the latest data, NIO is trading at $5.94, which is below the average price target of $6.77 set by analysts. This suggests that analysts believe the stock has potential for growth from its current price.

2. Technical Indicators: The stock's 5-day moving average is $5.39, and the 10-day moving average is $5.42, both of which are below the current price. This suggests that the stock is in a short-term uptrend.

3. MACD and RSI: The MACD is at 0.08, and the RSI is at 73.05, both of which are indicative of strong bullish momentum.

4. Support and Resistance Levels: The stock is currently trading near its resistance level, which could indicate a potential breakout if surpassed.

5. Fibonacci Retracement: The 0.618 Fibonacci Retracement is at $12.67, which is significantly higher than the current price, suggesting that the stock has potential to grow from its current level.

6. Market Developments: NIO has entered into a charging agreement with Chinese oil giant Sinopec, which could increase the EV charging infrastructure available to the company's consumers.
7. Company Fundamentals: NIO's vehicle deliveries and revenue have shown significant growth, and the company's vehicle margins have improved, indicating a strong operational performance.

In conclusion, while the technical indicators and recent market developments suggest strong bullish momentum for NIO, the current price is above the average analyst target, which could indicate a potential pullback. Investors should consider their risk tolerance and investment horizon before making a buying decision.