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The NIO stock price gained 2.79% on the last trading day (Friday, 20th Jan 2023), rising from $10.77 to $11.07. During the last trading day the stock fluctuated 4.71% from a day low at $10.83 to a day high of $11.34. The price has been going up and down for this period, and there has been a 1.93% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 39 million shares were bought and sold for approximately $429.08 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 weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 6.92% during the next 3 months and, with a 90% probability hold a price between $10.48 and $14.78 at the end of this 3-month period.
Furthermore, there is a buy 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO 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 $11.34 and $11.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, January 12, 2023, and so far it has fallen -6.27%. Further fall is indicated until a new bottom pivot has been found.
NIO finds support from accumulated volume at $10.98 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 $0.510 between high and low, or 4.71%. For the last week, the stock has had daily average volatility of 4.72%.
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.
Check full NIO forecast and analysis here.