NIO stock price up 0.693% on FridayStockInvest.us, 1 month ago
The NIO stock price gained 0.693% on the last trading day (Friday, 6th Oct 2023), rising from $8.66 to $8.72. During the last trading day the stock fluctuated 3.43% from a day low at $8.46 to a day high of $8.75. The price has risen in 6 of the last 10 days and is up by 2.23% 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, 2 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $201.65 million.
On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.80 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -23.69% during the next 3 months and, with a 90% probability hold a price between $5.95 and $9.68 at the end of this 3-month period.
There are mixed signals in the stock today. The NIO stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.79 and $9.81. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, September 25, 2023, and so far it has risen 4.43%. Further rise is indicated until a new top pivot has been found. 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.
NIO finds support from accumulated volume at $8.55 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 $0.290 between high and low, or 3.43%. For the last week, the stock has had daily average volatility of 3.23%.
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.