NIO Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.StockInvest.us, 3 months ago
The NIO Inc. stock price gained 3.05% on the last trading day (Thursday, 27th May 2021), rising from $37.76 to $38.91. , and has now gained 5 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 4.84% from a day low at $37.18 to a day high of $38.98. The price has risen in 8 of the last 10 days and is up by 24.63% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 52 million shares were bought and sold for approximately $2.04 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.
Mizuho is very positive about 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 2 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 -15.98% during the next 3 months and, with a 90% probability hold a price between $25.15 and $35.13 at the end of this 3-month period.
The NIO Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $35.78 and $36.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 24.63%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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.
NIO Inc. finds support from accumulated volume at $38.11 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 $1.80 between high and low, or 4.84%. For the last week, the stock has had a daily average volatility of 5.46%.
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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy Candidate to a Hold/Accumulate candidate.Check full NIO Inc. forecast and analysis here.