NIO stock price fell more than -5.71% Thursday closing at $5.28

The NIO stock price fell by -5.71% on the last day (Thursday, 12th Sep 2024) from $5.60 to $5.28. During the last trading day the stock fluctuated 8.63% from a day low at $5.10 to a day high of $5.54. The price has risen in 8 of the last 10 days and is up by 42.7% over the past 2 weeks. Volume has increased on the last day by 20 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 69 million shares were bought and sold for approximately $366.29 million.

On Sep 06, 2024, it was reported that Piper Sandler gave NIO a "Overweight" grade with a "upgrade" action.

The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $5.60 will give a strong buy signal and a trend shift could be expected.Given the current horizontal trend, you can expect NIO stock with a 90% probability to be traded between $3.59 and $5.53 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 stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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 $5.15 and $4.23. 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). 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 Wednesday, September 11, 2024, and so far it has fallen -5.71%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $4.87 and $4.62.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NIO finds support just below today's level at $4.87. If this is broken, then the next support from accumulated volume will be at $4.62 and $4.44.

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 $0.440 between high and low, or 8.63%. For the last week, the stock has had daily average volatility of 7.96%.

Several short-term signals 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 period.