Big movements in NIO stock price on Tuesday moving 11.43% between high and low

The NIO stock price gained 3.85% on the last trading day (Tuesday, 23rd Jan 2024), rising from $5.98 to $6.21. During the last trading day the stock fluctuated 11.43% from a day low at $6.17 to a day high of $6.88. The price has fallen in 9 of the last 10 days and is down by -21.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 44 million more shares were traded than the day before. In total, 116 million shares were bought and sold for approximately $720.97 million.

On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.98 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -2.35% during the next 3 months and, with a 90% probability hold a price between $5.84 and $9.15 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Monday, January 22, 2024, and so far it has risen 3.85%. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.36 and $7.70. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

NIO finds support from accumulated volume at $6.06 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.705 between high and low, or 11.43%. For the last week, the stock has had daily average volatility of 7.01%.

NIO is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

NIO holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.