Green day on Tuesday for NIO Inc.StockInvest.us, 3 months ago
The NIO Inc. stock price gained 0.50% on the last trading day (Tuesday, 25th May 2021), rising from $35.89 to $36.07. , and has now gained 3 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 5.46% from a day low at $35.69 to a day high of $37.64. The price has risen in 6 of the last 10 days and is up by 3.44% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 75 million shares were bought and sold for approximately $2.72 billion.
Mizuho is very positive to NIO and gave it a "Positive - Buy" rating on May 03, 2021. The price target was set to $60.00 → $65.00.Over the last 30 days, this security got 3 buy, 0 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -17.66% during the next 3 months and, with a 90% probability hold a price between $24.76 and $33.84 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 15.53%. Further rise is indicated until a new top pivot has been found. 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 $36.96. On a fall, the stock will find some support from the short-term average at $34.54. 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. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
NIO Inc. finds support from accumulated volume at $35.21 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 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 $1.95 between high and low, or 5.46%. For the last week, the stock has had a daily average volatility of 4.43%.
NIO Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full NIO Inc. forecast and analysis here.