On Thursday, NIO stock price gained an impressive 7.57%

The NIO stock price gained 7.57% on the last trading day (Thursday, 19th Sep 2024), rising from $5.02 to $5.40. During the last trading day the stock fluctuated 8.65% from a day low at $4.97 to a day high of $5.40. The price has risen in 6 of the last 10 days and is up by 11.34% 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, 27 million more shares were traded than the day before. In total, 90 million shares were bought and sold for approximately $485.03 million.

On Sep 06, 2024, it was reported that Piper Sandler gave NIO a "Overweight" grade with a "upgrade" action.

The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $5.64 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 7.04% during the next 3 months and, with a 90% probability hold a price between $4.05 and $6.03 at the end of this 3-month period.

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 $5.38 and $4.37. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, September 11, 2024, and so far it has fallen -3.57%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $5.02 and $4.87.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 $5.02. If this is broken, then the next support from accumulated volume will be at $4.87 and $4.44.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.430 between high and low, or 8.65%. For the last week, the stock has had daily average volatility of 6.81%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NIO stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.