NIO stock upgraded to Hold/Accumulate., 1 week ago


The NIO stock price gained 0.90% on the last trading day (Tuesday, 9th Jul 2024), rising from $4.46 to $4.50. During the last trading day the stock fluctuated 2.71% from a day low at $4.42 to a day high of $4.54. The price has been going up and down for this period, and there has been a 1.35% gain for the last 2 weeks. Volume fell on the last day by -11 million shares and in total, 27 million shares were bought and sold for approximately $119.50 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.

On Jul 05, 2024, it was reported that Morgan Stanley gave NIO a "Overweight" grade with a "hold" action.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NIO stock with a 90% probability to be traded between $3.92 and $5.92 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.


Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. 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 $4.51 and $4.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, July 03, 2024, and so far it has fallen -7.60%. Further fall is indicated until a new bottom pivot has been found.

NIO finds support from accumulated volume at $4.46 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 $0.120 between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 5.57%.

NIO holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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.

Check full NIO forecast and analysis here.