On Monday, NIO stock price gained an impressive 6.73%

StockInvest.us, 2 weeks ago


The NIO stock price gained 6.73% on the last trading day (Monday, 1st Jul 2024), rising from $4.16 to $4.44. During the last trading day the stock fluctuated 6.12% from a day low at $4.25 to a day high of $4.51. The price has fallen in 5 of the last 10 days but is still up by 2.54% 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, 9 million more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately $242.92 million.

On Jun 08, 2024, it was reported that Barclays gave NIO a "Underweight" grade with a "hold" action.

The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.16 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 4.81% during the next 3 months and, with a 90% probability hold a price between $4.36 and $6.22 at the end of this 3-month period.


A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 6.73%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.86. On a fall, the stock will find some support from the short-term average at $4.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

NIO finds support from accumulated volume at $4.39 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 $0.260 between high and low, or 6.12%. For the last week, the stock has had daily average volatility of 5.30%.

NIO holds several negative signals and we believe that 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.

Check full NIO forecast and analysis here.