NIO stock upgraded to Strong Buy Candidate.

The NIO stock price gained 3.51% on the last trading day (Monday, 3rd Jul 2023), rising from $9.69 to $10.03. During the last trading day the stock fluctuated 7.15% from a day low at $9.79 to a day high of $10.49. The price has fallen in 6 of the last 10 days but is still up by 6.7% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 69 million shares were bought and sold for approximately $688.57 million.

UBS is very positive about NIO. The price target was set to 13 (Nov 17, 2022).

Given the current horizontal trend, you can expect NIO stock with a 90% probability to be traded between $7.71 and $10.21 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.

Mostly positive signals in the chart today. 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 $9.26 and $8.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 02, 2023, and so far it has risen 34.63%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $8.79 and $8.40.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 $8.79. If this is broken, then the next support from accumulated volume will be at $8.40 and $7.73.

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 $0.700 between high and low, or 7.15%. For the last week, the stock has had daily average volatility of 5.43%.

NIO holds several positive signals and is considered to be a good choice at current levels. We expect the NIO stock to perform great in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.