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No changes to the price of NIO stock on the last trading day (Monday, 29th Jan 2024). During the last trading day the stock fluctuated 3.53% from a day low at $5.95 to a day high of $6.16. The price has fallen in 7 of the last 10 days and is down by -14.37% for this period.
On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.92 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -7.57% during the next 3 months and, with a 90% probability hold a price between $5.47 and $8.49 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Monday, January 22, 2024, and so far it has risen 2.68%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO 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 $7.55. On a fall, the stock will find some support from the short-term average at $6.09. 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 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
NIO finds support from accumulated volume at $6.07 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 very much during the 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 $0.210 between high and low, or 3.53%. For the last week, the stock has had daily average volatility of 6.40%.
NIO is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
NIO 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.
Check full NIO forecast and analysis here.