NIO Inc. stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.StockInvest.us, 1 month ago
The NIO Inc. stock price gained 2.62% on the last trading day (Monday, 2nd Aug 2021), rising from $44.68 to $45.85. , and has now gained 5 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 5.60% from a day low at $44.30 to a day high of $46.78. The price has risen in 6 of the last 10 days and is up by 5.77% 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, 2 million more shares were traded than the day before. In total, 68 million shares were bought and sold for approximately $3.13 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 26.81% during the next 3 months and, with a 90% probability hold a price between $50.89 and $72.84 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $43.07 and $45.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, July 27, 2021, and so far it has risen 16.49%. 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. 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 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 $2.48 between high and low, or 5.60%. For the last week, the stock has had a daily average volatility of 7.20%.
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 Sell to a Buy candidate.Check full NIO Inc. forecast and analysis here.