NIO stock price up 0.380% on Friday

StockInvest.us, 2 months ago

NIO

The NIO stock price gained 0.380% on the last trading day (Friday, 17th May 2024), rising from $5.26 to $5.28. During the last trading day the stock fluctuated 6.94% from a day low at $5.04 to a day high of $5.39. The price has been going up and down for this period, and there has been a -5.21% loss 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, 17 million more shares were traded than the day before. In total, 58 million shares were bought and sold for approximately $307.50 million.

On Apr 02, 2024, it was reported that Barclays gave NIO a "Underweight" grade with a "downgrade" 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 -13.87% during the next 3 months and, with a 90% probability hold a price between $3.02 and $4.95 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

NIO

The NIO stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5.35. On a fall, the stock will find some support from the long-term average at approximately $4.70. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 14, 2024, and so far it has fallen -8.81%. Further fall is indicated until a new bottom pivot has been found.

NIO finds support from accumulated volume at $5.27 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 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 $0.350 between high and low, or 6.94%. For the last week, the stock has had daily average volatility of 8.92%.

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.