High volatility in NIO stock price on Friday which ended trading at $12.71

The NIO stock price gained 4.44% on the last trading day (Friday, 27th Jan 2023), rising from $12.17 to $12.71. It 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 last trading day the stock fluctuated 10.35% from a day low at $11.98 to a day high of $13.22. The price has fallen in 6 of the last 10 days but is still up by 7.62% 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, 18 million more shares were traded than the day before. In total, 69 million shares were bought and sold for approximately $878.35 million.

The last rating was given by China Renaissance on Dec 29, 2022. The price target was changed from 12.3 to 10.4.Over the last 90 days, this security got 2 buy, 8 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and weak 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 8.18% during the next 3 months and, with a 90% probability hold a price between $10.74 and $15.13 at the end of this 3-month period.

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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.73 and $11.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, January 03, 2023, and so far it has risen 31.98%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $11.68 and $11.44.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 $11.68. If this is broken, then the next support from accumulated volume will be at $11.44 and $10.98.

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 $1.24 between high and low, or 10.35%. For the last week, the stock has had daily average volatility of 16.52%.

NIO holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.