NIO Inc. stock price ended on $44.68 on Friday after gaining 4.83%

The NIO Inc. stock price gained 4.83% on the last trading day (Friday, 30th Jul 2021), rising from $42.62 to $44.68. , and has now gained 4 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 8.84% from a day low at $41.53 to a day high of $45.20. The price has risen in 6 of the last 10 days and is up by 4.39% 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, 19 million more shares were traded than the day before. In total, 66 million shares were bought and sold for approximately $2.94 billion.

HSBC is very positive about NIO and gave it a "Hold - Buy" rating on July 09, 2021. The price target was set to $69.00.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.

The stock lies in the middle of a very 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 26.98% during the next 3 months and, with a 90% probability hold a price between $50.73 and $72.79 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Tuesday, July 27, 2021, and so far it has risen 13.52%. Further rise is indicated until a new top pivot has been found. 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 Inc. 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 $45.76. On a fall, the stock will find some support from the short-term average at $43.10. 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. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

NIO Inc. finds support from accumulated volume at $43.68 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 $3.67 between high and low, or 8.84%. For the last week, the stock has had a daily average volatility of 7.48%.

NIO Inc. 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.