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NIO stock price up 0.9% on Monday

StockInvest.us, 1 month ago

NIO

The NIO stock price gained 0.90% on the last trading day (Monday, 15th Aug 2022), rising from $21.11 to $21.30. , and has now gained 5 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 5.25% from a day low at $20.47 to a day high of $21.55. The price has risen in 6 of the last 10 days and is up by 5.55% 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, 1 million more shares were traded than the day before. In total, 36 million shares were bought and sold for approximately $772.64 million.

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 1 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 19.59% during the next 3 months and, with a 90% probability hold a price between $22.12 and $31.73 at the end of this 3-month period.

NIO

The NIO stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $20.41 and $20.72. 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, June 24, 2022, and so far it has fallen -11.54%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $20.18 and $20.11.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 $20.18. If this is broken, then the next support from accumulated volume will be at $20.11 and $19.18.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.08 between high and low, or 5.25%. For the last week, the stock has had a daily average volatility of 6.67%.

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.