Green day on Monday for NIO Inc.StockInvest.us, 3 months ago
The NIO Inc. stock price gained 1.90% on the last trading day (Monday, 14th Jun 2021), rising from $45.68 to $46.55. , and has now gained 4 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 3.66% from a day low at $45.58 to a day high of $47.25. The price has risen in 6 of the last 10 days and is up by 20.53% over the past 2 weeks. Volume fell on the last day by -20 million shares and in total, 65 million shares were bought and sold for approximately $3.02 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.
Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell is very positive about NIO and gave it a "Neutral - Buy" rating on June 01, 2021. The price target was changed from $57.60 to $58.30.Over the last 30 days, this security got 3 buy, 0 sell, and 0 hold ratings.
Given the current horizontal trend, you can expect NIO Inc. stock with a 90% probability to be traded between $30.83 and $46.16 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. 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.
Mostly positive signals in the chart today. 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 $43.84 and $38.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 49.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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 $43.68 and $36.96.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 $43.68. If this is broken, then the next support from accumulated volume will be at $36.96 and $36.13.
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 $1.67 between high and low, or 3.66%. For the last week, the stock has had a daily average volatility of 4.74%.
The NIO Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
NIO Inc. holds several positive signals and is considered to be a good choice at current levels. We expect the NIO Inc. stock to perform great in the short-term period.Check full NIO Inc. forecast and analysis here.