Green day on Thursday for NIO Inc.StockInvest.us, 6 months ago
The NIO Inc. stock price gained 1.46% on the last trading day (Thursday, 15th Jul 2021), rising from $43.05 to $43.68. During the day the stock fluctuated 4.90% from a day low at $42.68 to a day high of $44.77. The price has fallen in 8 of the last 10 days and is down by -17.89% for this period. Volume fell on the last day by -1 million shares and in total, 55 million shares were bought and sold for approximately $2.42 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.
HSBC is very positive about NIO and gave it a "Hold - Buy" rating on July 09, 2021. The price target was set to $69.00.Over the last 30 days, this security got 2 buy, 0 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and strong 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 30.81% during the next 3 months and, with a 90% probability hold a price between $52.65 and $72.34 at the end of this 3-month period.
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. 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 $45.03 and $45.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 30, 2021, and so far it has fallen -17.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $39.84 and $39.57.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 $39.84. If this is broken, then the next support from accumulated volume will be at $39.57 and $34.33.
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 $2.09 between high and low, or 4.90%. For the last week, the stock has had a daily average volatility of 5.11%.
The NIO Inc. stock holds several negative signals and despite the positive trend, we believe NIO Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Check full NIO Inc. forecast and analysis here.