High volatility in NIO stock price on Wednesday which ended trading at $4.65

The NIO stock price gained 0.237% on the last trading day (Wednesday, 20th Nov 2024), rising from $4.64 to $4.65. During the last trading day the stock fluctuated 12.30% from a day low at $4.31 to a day high of $4.84. The price has been going up and down for this period, and there has been a -7.09% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 90 million shares were bought and sold for approximately $416.68 million.

On Oct 28, 2024, it was reported that Wells Fargo gave NIO a "Equal-Weight" grade with a "upgrade" action.

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 $4.10 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 6.14% during the next 3 months and, with a 90% probability hold a price between $4.35 and $7.90 at the end of this 3-month period.

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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO 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 $5.38. On a fall, the stock will find some support from the short-term average at $4.58. 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. A sell signal was issued from a pivot top point on Wednesday, October 02, 2024, and so far it has fallen -35.51%. Further fall is indicated until a new bottom pivot has been found.

NIO finds support from accumulated volume at $4.64 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 $0.530 between high and low, or 12.30%. For the last week, the stock has had daily average volatility of 6.23%.

NIO holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.