NIO stock upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.

The NIO stock price gained 1.94% on the last trading day (Thursday, 29th Dec 2022), rising from $9.80 to $9.99. During the last trading day the stock fluctuated 5.12% from a day low at $9.77 to a day high of $10.27. The price has fallen in 7 of the last 10 days and is down by -17.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 49 million shares were bought and sold for approximately $490.01 million.

The last rating was given by China Renaissance on Dec 29, 2022. The price target was changed from 12.3 to 10.4.Over the last 90 days, this security got 2 buy, 10 sell, and 0 hold ratings.

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 -13.58% during the next 3 months and, with a 90% probability hold a price between $7.06 and $11.19 at the end of this 3-month period.

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. The NIO stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.69 and $11.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, December 08, 2022, and so far it has fallen -25.50%. 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).

NIO finds support from accumulated volume at $9.69 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.500 between high and low, or 5.12%. For the last week, the stock has had daily average volatility of 6.16%.

NIO is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

NIO holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.