Big movements in NIO stock price on Tuesday moving 15.64% between high and low

The NIO stock price fell by -1.18% on the last day (Tuesday, 29th Aug 2023) from $11.02 to $10.89. During the last trading day the stock fluctuated 15.64% from a day low at $9.46 to a day high of $10.94. The price has been going up and down for this period, and there has been a -7.95% loss for the last 2 weeks. Volume has increased on the last day by 82 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, 124 million shares were bought and sold for approximately $1.35 billion.

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

Given the current short-term trend, the stock is expected to rise 46.67% during the next 3 months and, with a 90% probability hold a price between $15.97 and $24.94 at the end of this 3-month period.

There are few to no technical positive signals at the moment. 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 $12.20. On a fall, the stock will find some support from the short-term average at $10.85. 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. A sell signal was issued from a pivot top point on Thursday, August 03, 2023, and so far it has fallen -29.56%. Further fall is indicated until a new bottom pivot has been found. 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.

NIO finds support from accumulated volume at $10.78 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 $1.48 between high and low, or 15.64%. For the last week, the stock has had daily average volatility of 6.56%.

NIO is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

The NIO stock holds several negative signals and despite the positive trend, we believe NIO will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.