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

The NIO stock price gained 1.45% on the last trading day (Tuesday, 28th May 2024), rising from $4.83 to $4.90. During the last trading day the stock fluctuated 3.73% from a day low at $4.83 to a day high of $5.01. The price has been going up and down for this period, and there has been a -9.43% 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, 14 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately $225.95 million.

On May 28, 2024, it was reported that Bank of America Securities gave NIO a "Neutral" grade with a "hold" action.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -7.51% during the next 3 months and, with a 90% probability hold a price between $3.33 and $5.29 at the end of this 3-month period.

The NIO stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5.07. On a fall, the stock will find some support from the long-term average at approximately $4.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 14, 2024, and so far it has fallen -15.37%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $4.50 and $4.49.There is a 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 $4.50. If this is broken, then the next support from accumulated volume will be at $4.49 and $4.00.

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 $0.180 between high and low, or 3.73%. For the last week, the stock has had daily average volatility of 5.38%.

NIO holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.