Strong day for NIO Inc. stock price on Thursday rising 5.20% to $47.36StockInvest.us, 4 months ago
The NIO Inc. stock price gained 5.20% on the last trading day (Thursday, 17th Jun 2021), rising from $45.02 to $47.36. During the day the stock fluctuated 6.45% from a day low at $44.86 to a day high of $47.76. The price has risen in 6 of the last 10 days and is up by 15.79% 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, 17 million more shares were traded than the day before. In total, 65 million shares were bought and sold for approximately $3.06 billion.
Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell is very positive about NIO and gave it a "Neutral - Buy" rating on June 01, 2021. The price target was changed from $57.60 to $58.30.Over the last 30 days, this security got 3 buy, 0 sell, and 0 hold ratings.
The stock has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $44.44, a level that may pose a second chance to hit a runner. According to fan-theory $56.48 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Mostly positive signals in the chart today. 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 $45.04 and $38.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 51.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $37.94 and $36.96.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 $37.94. If this is broken, then the next support from accumulated volume will be at $36.96 and $36.13.
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 $2.90 between high and low, or 6.45%. For the last week, the stock has had a daily average volatility of 4.87%.
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for NIO Inc. stock to perform well in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.Check full NIO Inc. forecast and analysis here.