NIO stock price up 0.44% on FridayStockInvest.us, 2 months ago
The NIO stock price gained 0.44% on the last trading day (Friday, 8th Jul 2022), rising from $22.50 to $22.60. , and 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 day the stock fluctuated 7.48% from a day low at $21.66 to a day high of $23.28. The price has fallen in 6 of the last 10 days and is down by -1.95% for this period. Volume fell on the last day by -23 million shares and in total, 49 million shares were bought and sold for approximately $1.10 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
HSBC is very positive about NIO and gave it a "$26.00 - $28.00" rating on Jun 30, 2022. The price target was changed from 26 to 28.Over the last 90 days, this security got 2 buy, 4 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and strong 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 27.09% during the next 3 months and, with a 90% probability hold a price between $20.53 and $31.61 at the end of this 3-month period.
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 24, 2022, and so far it has fallen -6.15%. 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). 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 $21.86 and $19.44. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
On the downside, the stock finds support just below today's level from accumulated volume at $20.11 and $19.18.There is 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 $20.11. If this is broken, then the next support from accumulated volume will be at $19.18 and $18.66.
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 $1.62 between high and low, or 7.48%. For the last week, the stock has had a daily average volatility of 7.61%.
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.