A very strong day for NIO stock price on FridayStockInvest.us, 2 weeks ago
The NIO stock price gained 8.37% on the last trading day (Friday, 9th Sep 2022), rising from $17.68 to $19.16. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.11% from a day low at $18.29 to a day high of $19.59. The price has been going up and down for this period, and there has been a -4.58% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 million more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately $1.05 billion.
The last rating was given by Mizuho on Sep 08, 2022. The price target was changed from 48 to 42.Over the last 90 days, this security got 1 buy, 4 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -10.04% during the next 3 months and, with a 90% probability hold a price between $15.29 and $19.78 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Tuesday, September 06, 2022, and so far it has risen 11.98%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $19.55. On a fall, the stock will find some support from the short-term average at $18.27. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
NIO finds support from accumulated volume at $18.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.30 between high and low, or 7.11%. For the last week, the stock has had daily average volatility of 6.38%.
NIO holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full NIO forecast and analysis here.