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

The NIO stock price gained 0.84% on the last trading day (Wednesday, 20th Jul 2022), rising from $20.20 to $20.37. During the day the stock fluctuated 4.69% from a day low at $20.01 to a day high of $20.95. The price has risen in 6 of the last 10 days, but is still down by -2.21% for this period. Volume fell on the last day by -23 million shares and in total, 40 million shares were bought and sold for approximately $819.79 million. 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.

HSBC is very positive about NIO and gave it a "$26.00 - $28.00" rating on Jun 30, 2022. The price target was changed from 26 to 28.Over the last 90 days, this security got 2 buy, 4 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 40.95% during the next 3 months and, with a 90% probability hold a price between $26.18 and $36.93 at the end of this 3-month period.

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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. On corrections up, there will be some resistance from the lines at $20.73 and $20.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 24, 2022, and so far it has fallen -15.41%. 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 $20.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.94 between high and low, or 4.69%. For the last week, the stock has had a daily average volatility of 5.47%.

The NIO stock holds several negative signals and despite the positive trend, we believe NIO will perform weakly in the next couple of days or weeks. Therefore, we 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.