Evaluation of NIO Inc. stock downgraded after the last trading session.

The NIO Inc. stock price gained 1.11% on the last trading day (Friday, 12th Nov 2021), rising from $42.20 to $42.67. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 3.91% from a day low at $41.91 to a day high of $43.55. The price has risen in 7 of the last 10 days and is up by 8.27% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 34 million shares were bought and sold for approximately $1.47 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Nov 11, 2021 "Mizuho" gave "$67.00 - $65.00" rating for NIO. The price target was set to $41.91+6.0%.

The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $43.37 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 6.78% during the next 3 months and, with a 90% probability hold a price between $37.00 and $46.31 at the end of this 3-month period.

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, November 08, 2021, and so far it has fallen -1.23%. 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). The NIO Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $41.95 and $38.54. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $39.31 and $38.62.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NIO Inc. finds support just below today's level at $39.31. If this is broken, then the next support from accumulated volume will be at $38.62 and $35.99.

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 $1.64 between high and low, or 3.91%. For the last week, the stock has had a daily average volatility of 5.90%.

NIO Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.