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The NIO Inc. stock price gained 3.16% on the last trading day (Tuesday, 29th Mar 2022), rising from $21.21 to $21.88. , and 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 day the stock fluctuated 4.47% from a day low at $21.02 to a day high of $21.96. The price has risen in 8 of the last 10 days and is up by 46.55% 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, 66 million more shares were traded than the day before. In total, 66 million shares were bought and sold for approximately $1.44 billion.
On Mar 28, 2022 "Nomura" gave "$67.10 - $51.50" rating for NIO. The price target was set to $21.21+6.5%.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $21.33, a level that may pose a second chance to hit a runner. According to fan-theory $30.94 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
The NIO Inc. 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 $21.27 and $21.12. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 24, 2022, and so far it has fallen -0.45%. Further fall is indicated until a new bottom pivot has been found.
NIO Inc. finds support from accumulated volume at $21.87 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.94 between high and low, or 4.47%. For the last week, the stock has had a daily average volatility of 6.28%.
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 to a Hold/Accumulate candidate.
Check full NIO forecast and analysis here.