NIO Inc. stock up more than 9.34% on TuesdayStockInvest.us, 1 year ago
The NIO Inc. stock gained 9.34% on the last trading day (Tuesday, 27th Oct 2020), rising from $26.01 to $28.44. During the day the stock fluctuated 9.34% from a day low at $26.03 to a day high of $28.46. The price has been going up and down for this period, and there has been a 31.54% gain 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, 31 million more shares were traded than the day before. In total, 103 million shares were bought and sold for approximately $2.93 billion.
Deutsche Bank is very positive to NIO and gave it a "Buy" rating on September 08, 2020. The price target was set to $24.00.
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 97.55% during the next 3 months and, with a 90% probability hold a price between $45.82 and $59.47 at the end of this 3-month period.
The NIO Inc. stock holds buy signals from both short and long-term moving averages. 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 $27.49 and $22.03. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday, October 16, 2020, and so far it has fallen -0.14%. Further fall is indicated until a new bottom pivot has been found.
NIO Inc. finds support from accumulated volume at $28.07.
This stock may move very much during a 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 $2.43 between high and low, or 9.34%. For the last week, the stock has had daily average volatility of 5.92%.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy Candidate candidate.Check full NIO Inc. forecast and analysis here.