NIO Inc. stock price up more than 9.63% on Tuesday

The NIO Inc. stock price gained 9.63% on the last trading day (Tuesday, 1st Jun 2021), rising from $38.62 to $42.34. During the day the stock fluctuated 6.26% from a day low at $39.94 to a day high of $42.44. The price has risen in 7 of the last 10 days and is up by 25.23% 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, 42 million more shares were traded than the day before. In total, 100 million shares were bought and sold for approximately $4.25 billion.

Mizuho is very positive about NIO and gave it a "Positive - Buy" rating on May 03, 2021. The price target was changed from $60.00 to $65.00.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.

Given the current short-term trend, the stock is expected to fall -13.02% during the next 3 months and, with a 90% probability hold a price between $26.10 and $36.83 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 $37.66 and $37.15. 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 35.62%. 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 is rising along with the price. This is considered to be a good technical signal.

NIO Inc. finds support from accumulated volume at $41.32 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 $2.50 between high and low, or 6.26%. For the last week, the stock has had a daily average volatility of 5.26%.

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.