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Red day on Monday for NIO

StockInvest.us, 1 month ago


The NIO stock price fell by -1.32% on the last day (Monday, 22nd Jan 2024) from $6.06 to $5.98. It has now fallen 10 days in a row. During the last trading day the stock fluctuated 6.38% from a day low at $5.80 to a day high of $6.17. The price has fallen in 10 of the last 10 days and is down by -25.81% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 73 million shares were bought and sold for approximately $433.67 million.

On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.

Given the current horizontal trend, you can expect NIO stock with a 90% probability to be traded between $5.93 and $9.33 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.


There are few to no technical positive signals at the moment. 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 $6.53 and $7.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, December 28, 2023, and so far it has fallen -36.59%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.370 between high and low, or 6.38%. For the last week, the stock has had daily average volatility of 6.58%.

NIO is oversold on RSI14 (2). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

NIO holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Check full NIO forecast and analysis here.