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The NIO stock price gained 0.249% on the last trading day (Wednesday, 1st Feb 2023), rising from $12.07 to $12.10. It has now gained 3 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 last trading day the stock fluctuated 6.34% from a day low at $11.59 to a day high of $12.32. The price has risen in 6 of the last 10 days and is up by 9.9% 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, 19 million more shares were traded than the day before. In total, 65 million shares were bought and sold for approximately $782.77 million.
The last rating was given by China Renaissance on Dec 29, 2022. The price target was changed from 12.3 to 10.4.Over the last 90 days, this security got 2 buy, 8 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and weak 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 6.72% during the next 3 months and, with a 90% probability hold a price between $10.58 and $14.86 at the end of this 3-month period.
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 $12.05 and $11.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, January 27, 2023, and so far it has fallen -4.80%. Further fall is indicated until a new bottom pivot has been found.
NIO finds support from accumulated volume at $11.68 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 $0.735 between high and low, or 6.34%. For the last week, the stock has had daily average volatility of 6.48%.
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 stock to perform well in the short-term.
Check full NIO forecast and analysis here.