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The NIO stock price gained 1.01% on the last trading day (Tuesday, 13th Sep 2022), rising from $21.75 to $21.97. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.98% from a day low at $20.85 to a day high of $22.30. The price has risen in 7 of the last 10 days and is up by 10.9% over the past 2 weeks. Volume fell on the last day by -9 million shares and in total, 78 million shares were bought and sold for approximately $1.71 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.
The last rating was given by Mizuho on Sep 08, 2022. The price target was changed from 48 to 42.Over the last 90 days, this security got 1 buy, 4 sell, and 0 hold ratings.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $21.63, a level that may pose a second chance to hit a runner. According to fan-theory $26.37 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Mostly positive signals in the chart today. The NIO stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $18.98 and $19.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, September 06, 2022, and so far it has risen 28.40%. 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 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 $20.18 and $20.11.There is a 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 finds support just below today's level at $20.18. If this is broken, then the next support from accumulated volume will be at $20.11 and $18.66.
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 $1.46 between high and low, or 6.98%. For the last week, the stock has had daily average volatility of 7.74%.
Since the NIO has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Check full NIO forecast and analysis here.