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Big movements in NIO Inc. stock price on Monday moving 10.56% between high and low

StockInvest.us, 2 months ago

NIO Inc.

The NIO Inc. stock price gained 9.07% on the last trading day (Monday, 28th Feb 2022), rising from $20.94 to $22.84. During the day the stock fluctuated 10.56% from a day low at $20.94 to a day high of $23.15. The price has fallen in 7 of the last 10 days and is down by -5.23% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 27 million more shares were traded than the day before. In total, 83 million shares were bought and sold for approximately $1.90 billion.

On Feb 16, 2022 "CLSA" gave "$60.00 - $35.00" rating for NIO. The price target was changed from $25.61 to 0.7%.

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 -35.55% during the next 3 months and, with a 90% probability hold a price between $12.74 and $16.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

NIO Inc.

A buy signal was issued from a pivot bottom point on Wednesday, February 23, 2022, and so far it has risen 11.63%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Inc. 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 $25.26. On a fall, the stock will find some support from the short-term average at $22.17. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $21.22 and $21.11.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NIO Inc. finds support just below today's level at $21.22. If this is broken, then the next support from accumulated volume will be at $21.11 and $20.90.

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 $2.21 between high and low, or 10.56%. For the last week, the stock has had a daily average volatility of 10.10%.

NIO Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full NIO Inc. forecast and analysis here.