NIO stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.

The NIO stock price gained 3.01% on the last trading day (Tuesday, 6th Dec 2022), rising from $12.78 to $13.16. During the last trading day the stock fluctuated 6.84% from a day low at $12.43 to a day high of $13.28. The price has been going up and down for this period, and there has been a 31.34% gain for the last 2 weeks. Volume fell on the last day by -88 million shares and in total, 65 thousand shares were bought and sold for approximately $859.07 thousand. 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.

The last rating was given by Jefferies on Nov 28, 2022. The price target was changed from 42.3 to 11.26.Over the last 90 days, this security got 2 buy, 10 sell, and 0 hold ratings.

Given the current short-term trend, the stock is expected to fall -44.50% during the next 3 months and, with a 90% probability hold a price between $3.48 and $7.30 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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 $12.08 and $10.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, November 09, 2022, and so far it has risen 41.81%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

NIO finds support from accumulated volume at $12.73 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.85 between high and low, or 6.84%. For the last week the stock has had daily average volatility of 10.30%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.