High volatility in NIO Inc. stock price on Monday which ended trading at $32.34StockInvest.us, 1 month ago
The NIO Inc. stock price gained 0.59% on the last trading day (Monday, 6th Dec 2021), rising from $32.15 to $32.34. During the day the stock fluctuated 12.34% from a day low at $29.66 to a day high of $33.32. The price has fallen in 6 of the last 10 days and is down by -16.35% for this period. Volume fell on the last day by -36 million shares and in total, 70 million shares were bought and sold for approximately $2.25 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.
On Nov 11, 2021 "Mizuho" gave "$67.00 - $65.00" rating for NIO. The price target was set to $41.91+6.0%.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $32.21 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 8.95% during the next 3 months and, with a 90% probability hold a price between $35.09 and $48.26 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Friday, December 03, 2021, and so far it has risen 0.59%. Further rise is indicated until a new top pivot has been found. 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 $36.94 and $39.95. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
NIO Inc. finds support from accumulated volume at $32.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $3.66 between high and low, or 12.34%. For the last week, the stock has had a daily average volatility of 11.13%.
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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.Check full NIO Inc. forecast and analysis here.