Big movements in NIO stock price on Friday moving 13.78% between high and low

The NIO stock price fell by -0.770% on the last day (Friday, 9th Jun 2023) from $7.79 to $7.73. During the last trading day the stock fluctuated 13.78% from a day low at $7.69 to a day high of $8.75. The price has risen in 7 of the last 10 days and is up by 2.52% over the past 2 weeks. Volume has increased on the last day by 77 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 139 million shares were bought and sold for approximately $1.08 billion.

UBS is very positive about NIO and gave it a "" rating on Nov 17, 2022. The price target was set to 13.

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 -15.35% during the next 3 months and, with a 90% probability hold a price between $6.09 and $7.82 at the end of this 3-month period.

There are mixed signals in the stock today. 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 $7.94. On a fall, the stock will find some support from the short-term average at $7.70. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Tuesday, May 30, 2023, and so far it has risen 4.32%. Further rise is indicated until a new top pivot has been found.

NIO finds support from accumulated volume at $7.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.06 between high and low, or 13.78%. For the last week, the stock has had daily average volatility of 6.85%.

NIO 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.