Red day on Tuesday for NIO stock after losing 0%

No changes to the price of NIO stock on the last trading day (Tuesday, 14th Feb 2023). During the last trading day the stock fluctuated 4.44% from a day low at $9.91 to a day high of $10.35. The price has fallen in 7 of the last 10 days and is down by -14.58% for this period.

The last rating was given by China Renaissance on Dec 29, 2022. The price target was changed from 12.3 to 10.4.Over the last 90 days, this security got 1 buy, 5 sell, and 0 hold ratings.

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 $9.39 and $13.06 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.

A buy signal was issued from a pivot bottom point on Friday, February 10, 2023, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and 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 $10.56 and $11.06. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

NIO finds support from accumulated volume at $10.06 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 $0.440 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 4.01%.

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.