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The NIO stock price fell by -0.80% on the last day (Friday, 26th Aug 2022) from $20.08 to $19.92. During the last trading day the stock fluctuated 7.32% from a day low at $19.81 to a day high of $21.26. The price has fallen in 7 of the last 10 days and is down by -5.64% for this period. Volume has increased on the last day by 19 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, 61 million shares were bought and sold for approximately $1.22 billion.
HSBC is very positive about NIO and gave it a "$26.00 - $28.00" rating on Jun 30, 2022. The price target was changed from 26 to 28.Over the last 90 days, this security got 1 buy, 4 sell, and 0 hold ratings.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NIO stock with a 90% probability to be traded between $16.69 and $24.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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 $20.09. On a fall, the stock will find some support from the short-term average at $19.30. 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 Friday, June 24, 2022, and so far it has fallen -17.28%. 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 $19.18 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 $1.45 between high and low, or 7.32%. For the last week, the stock has had daily average volatility of 6.40%.
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.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.