NIO stock price up more than 7.11% on Friday

The NIO stock price gained 7.11% on the last trading day (Friday, 1st Sep 2023), rising from $10.27 to $11.00. During the last trading day the stock fluctuated 8.10% from a day low at $10.50 to a day high of $11.35. The price has been going up and down for this period, and there has been a 3.09% gain 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, 28 million more shares were traded than the day before. In total, 76 million shares were bought and sold for approximately $839.26 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 $10.34 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 35.80% during the next 3 months and, with a 90% probability hold a price between $14.04 and $23.02 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 $12.18. On a fall, the stock will find some support from the short-term average at $10.76. 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 -28.85%. 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 $10.89 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 $0.85 between high and low, or 8.10%. For the last week, the stock has had daily average volatility of 7.37%.

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.