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Green day on Thursday for NIO Inc.

StockInvest.us, 4 weeks ago

NIO Inc.

The NIO Inc. stock price gained 2.24% on the last trading day (Thursday, 23rd Dec 2021), rising from $29.85 to $30.52. During the day the stock fluctuated 6.32% from a day low at $28.97 to a day high of $30.80. The price has fallen in 7 of the last 10 days and is down by -10.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 623 thousand more shares were traded than the day before. In total, 38 million shares were bought and sold for approximately $1.16 billion.

On Dec 16, 2021 "Deutsche Bank Aktiengesellschaft" gave "$70.00" rating for NIO. The price target was changed from $30.22 to 1.9%.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.97 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -9.05% during the next 3 months and, with a 90% probability hold a price between $25.43 and $37.40 at the end of this 3-month period.

NIO Inc.

A buy signal was issued from a pivot bottom point on Monday, December 20, 2021, and so far it has risen 8.38%. Further rise is indicated until a new top pivot has been found. 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 Inc. 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 $36.78. On a fall, the stock will find some support from the short-term average at $29.94. 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.

NIO Inc. finds support from accumulated volume at $30.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.83 between high and low, or 6.32%. For the last week, the stock has had a daily average volatility of 6.06%.

NIO Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full NIO Inc. forecast and analysis here.