Evaluation of NIO Inc. stock downgraded after the last trading session.StockInvest.us, 10 months ago
The NIO Inc. stock price fell by -4.68% on the last day (Tuesday, 28th Sep 2021) from $36.77 to $35.05. During the day the stock fluctuated 6.01% from a day low at $34.93 to a day high of $37.03. The price has been going up and down for this period, and there has been a -7.5% loss for the last 2 weeks. Volume has increased on the last day by 1 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, 37 million shares were bought and sold for approximately $1.30 billion.
On September 26, 2021 "HSBC" gave "$69.00 - $47.00" rating for NIO. The price target was set to $35.380.0%.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $33.84 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -24.95% during the next 3 months and, with a 90% probability hold a price between $25.40 and $30.08 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.
A buy signal was issued from a pivot bottom point on Tuesday, September 21, 2021, and so far it has risen 0.43%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO Inc. 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 $35.57 and $38.37. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
NIO Inc. finds support from accumulated volume at $34.90 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 $2.10 between high and low, or 6.01%. For the last week, the stock has had a daily average volatility of 4.04%.
NIO Inc. holds several negative signals and is within a 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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.Check full NIO forecast and analysis here.