NIO Inc. stock price ended on $40.46 on Monday after gaining 1.18%StockInvest.us, 1 month ago
The NIO Inc. stock price gained 1.18% on the last trading day (Monday, 29th Nov 2021), rising from $39.99 to $40.46. During the day the stock fluctuated 4.32% from a day low at $39.49 to a day high of $41.20. The price has been going up and down for this period, and there has been a -5.18% 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, 4 million more shares were traded than the day before. In total, 34 million shares were bought and sold for approximately $1.39 billion.
On Nov 11, 2021 "Mizuho" gave "$67.00 - $65.00" rating for NIO. The price target was set to $41.91+6.0%.
The stock lies in the middle of a wide and strong 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 11.41% during the next 3 months and, with a 90% probability hold a price between $40.38 and $49.93 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. 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 $40.35 and $40.05. A breakdown below any of these levels will issue sell signals. 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 Tuesday, November 23, 2021, and so far it has fallen -3.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
NIO Inc. finds support from accumulated volume at $39.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.71 between high and low, or 4.32%. For the last week, the stock has had a daily average volatility of 4.89%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NIO Inc. stock to perform well in the short-term.Check full NIO Inc. forecast and analysis here.