Big movements in NIO stock price on Wednesday moving 10.66% between high and low

The NIO stock price gained 10.38% on the last trading day (Wednesday, 4th Jan 2023), rising from $9.63 to $10.63. During the last trading day the stock fluctuated 10.66% from a day low at $9.85 to a day high of $10.90. The price has fallen in 6 of the last 10 days and is down by -3.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 63 million shares were bought and sold for approximately $671.92 million.

The last rating was given by China Renaissance on Dec 29, 2022. The price target was changed from 12.3 to 10.4.Over the last 90 days, this security got 2 buy, 9 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 -8.26% during the next 3 months and, with a 90% probability hold a price between $7.87 and $12.01 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 $11.28. On a fall, the stock will find some support from the short-term average at $10.12. 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, December 08, 2022, and so far it has fallen -20.73%. 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 is rising along with the price. This is considered to be a good technical signal.

NIO finds support from accumulated volume at $10.28 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 $1.05 between high and low, or 10.66%. For the last week, the stock has had daily average volatility of 7.57%.

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.