NIO stock price ended at $5.27 on Wednesday, after gaining 1.15%.

StockInvest.us, 1 month ago

NIO

The NIO stock price gained 1.15% on the last trading day (Wednesday, 5th Jun 2024), rising from $5.21 to $5.27. During the last trading day the stock fluctuated 3.88% from a day low at $5.15 to a day high of $5.35. The price has been going up and down for this period, and there has been a 0.38% 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, 19 million more shares were traded than the day before. In total, 48 million shares were bought and sold for approximately $254.32 million.

On May 31, 2024, it was reported that Morgan Stanley gave NIO a "Overweight" grade with a "hold" action.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NIO stock with a 90% probability to be traded between $3.74 and $5.72 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

NIO

The NIO stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. 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 $5.21 and $4.97. A breakdown below any of these levels will issue sell signals. 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 sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -8.98%. 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).

NIO finds support from accumulated volume at $5.22 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 $0.200 between high and low, or 3.88%. For the last week, the stock has had daily average volatility of 6.18%.

NIO holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Check full NIO forecast and analysis here.