NIO stock price down 3.11% on FridayStockInvest.us, 1 month ago
The NIO stock price fell by -3.11% on the last day (Friday, 12th Jan 2024) from $7.40 to $7.17. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 5.17% from a day low at $7.16 to a day high of $7.53. The price has fallen in 9 of the last 10 days and is down by -23.97% for this period. 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 -4 million shares and in total, 48 million shares were bought and sold for approximately $346.64 million.
On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $7.33. A reaction back to this level may hold a second chance to get out before further falls.
There are few to no technical positive signals at the moment. 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 $7.69 and $7.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, December 28, 2023, and so far it has fallen -23.97%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
NIO finds support from accumulated volume at $7.15 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.370 between high and low, or 5.17%. For the last week, the stock has had daily average volatility of 4.30%.
The NIO stock holds several negative signals and despite the positive trend, we believe NIO will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Check full NIO forecast and analysis here.