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The NIO stock price gained 1.75% on the last trading day (Monday, 28th Aug 2023), rising from $10.83 to $11.02. During the last trading day the stock fluctuated 4.02% from a day low at $10.70 to a day high of $11.13. The price has been going up and down for this period, and there has been a -11.98% 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, 10 million more shares were traded than the day before. In total, 41 million shares were bought and sold for approximately $454.24 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 part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.82 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 48.72% during the next 3 months and, with a 90% probability hold a price between $16.09 and $25.26 at the end of this 3-month period.
There are mixed signals in the stock today. The NIO stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $12.19. On a fall, the stock will find some support from the short-term average at $10.82. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, August 03, 2023, and so far it has fallen -28.72%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
NIO finds support from accumulated volume at $10.78 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 $0.430 between high and low, or 4.02%. For the last week, the stock has had daily average volatility of 4.95%.
NIO is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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.