Strong day for NIO Inc. stock price on Monday rising 7.32% to $41.49StockInvest.us, 5 days ago
The NIO Inc. stock price gained 7.32% on the last trading day (Monday, 22nd Nov 2021), rising from $38.66 to $41.49. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 6.43% from a day low at $40.25 to a day high of $42.84. The price has been going up and down for this period, and there has been a -3.96% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 42 million more shares were traded than the day before. In total, 71 million shares were bought and sold for approximately $2.93 billion.
On Nov 11, 2021 "Mizuho" gave "$67.00 - $65.00" rating for NIO. The price target was set to $41.91+6.0%.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 8.95% during the next 3 months and, with a 90% probability hold a price between $38.53 and $47.68 at the end of this 3-month period.
The NIO Inc. 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 $40.31 and $39.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, November 18, 2021, and so far it has risen 8.02%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $39.31 and $35.99.There is 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 Inc. finds support just below today's level at $39.31. If this is broken, then the next support from accumulated volume will be at $35.99 and $35.38.
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 $2.59 between high and low, or 6.43%. For the last week, the stock has had a daily average volatility of 4.52%.
NIO Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.Check full NIO Inc. forecast and analysis here.