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The NIO stock price fell by -2.93% on the last day (Tuesday, 20th Feb 2024) from $6.14 to $5.96. During the last trading day the stock fluctuated 4.14% from a day low at $5.79 to a day high of $6.03. The price has risen in 6 of the last 10 days and is up by 10.78% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -454 thousand shares and in total, 40 million shares were bought and sold for approximately $235.82 million.
On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -23.09% during the next 3 months and, with a 90% probability hold a price between $3.83 and $6.17 at the end of this 3-month period.
There are mixed signals in the stock today. The NIO stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $5.99 and $6.55. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 10.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
NIO finds support from accumulated volume at $5.79 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 $0.240 between high and low, or 4.14%. For the last week, the stock has had daily average volatility of 3.89%.
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.