High volatility in NIO stock price on Wednesday which ended trading at $18.30StockInvest.us, 4 days ago
The NIO stock price fell by -10.34% on the last day (Wednesday, 21st Sep 2022) from $20.41 to $18.30. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 10.47% from a day low at $18.25 to a day high of $20.16. The price has been going up and down for this period, and there has been a 4.69% gain for the last 2 weeks. Volume has increased on the last day by 35 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 64 million shares were bought and sold for approximately $1.18 billion.
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, 3 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 -11.08% during the next 3 months and, with a 90% probability hold a price between $14.79 and $19.31 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $20.74 and $19.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, September 13, 2022, and so far it has fallen -16.70%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
NIO finds support from accumulated volume at $18.29 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 $1.91 between high and low, or 10.47%. For the last week, the stock has had daily average volatility of 6.85%.
NIO holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.Check full NIO forecast and analysis here.