The stock’s decline comes amid a broader market context in which S&P 500 futures are down slightly by 0.3%, indicating mixed investor sentiment.Key TakeawaysNIO shipped 40,597 units in June, reflecting a 62.9% year-over-year (Y/Y) increase. It includes 21,908 under the NIO brand, 11,743 from ONVO, and 6,946 from FIREFLY.Tesla’s rival company witnessed a total sales of 107,658 vehicles in the second quarter, up 49.4% Y/Y, bringing cumulative deliveries to 1,188,715 as of June 30.This strong performance highlights NIO’s ongoing growth in the premium electric vehicle market, particularly with the NIO ES9 achieving 10,000 cumulative deliveries within 30 days of its launch.Also, the company’s All-New ES8 surpassed 120,000 cumulative deliveries in the quarter, strengthening NIO’s presence in the premium SUV segment.Peer’s PerformanceMeanwhile, Xpeng recorded a 16% Y/Y increase in June deliveries, with 103,295 units delivered in the first half of 2026 (-48% Y/Y).Li also released its latest delivery numbers on Tuesday, reporting 30,895 vehicles delivered in June 2026. This figure represents a 15% Y/Y decrease. NIO Technical Outlook: Trend, Support And ResistanceFrom a technical perspective, NIO is currently trading at $4.89, which is about 6% below its 20-day simple moving average (SMA) of $5.20. The stock is also significantly below its 50-day SMA of $5.68 and its 200-day SMA of $5.78, indicating a bearish trend. The moving average convergence divergence (MACD) is above its signal line, suggesting that downside pressure is easing, although the overall trend remains negative.