14-day Premium Trial Subscription Sign Up For FreeGet Free

Strong day for NIO Inc. stock price on Wednesday rising 5.89% to $46.77

StockInvest.us, 6 months ago

NIO Inc.

The NIO Inc. stock price gained 5.89% on the last trading day (Wednesday, 21st Jul 2021), rising from $44.17 to $46.77. , and has now gained 4 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 7.68% from a day low at $44.00 to a day high of $47.38. The price has been going up and down for this period, and there has been a 1.59% gain 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, 22 million more shares were traded than the day before. In total, 60 million shares were bought and sold for approximately $2.79 billion.

HSBC is very positive about NIO and gave it a "Hold - Buy" rating on July 09, 2021. The price target was set to $69.00.Over the last 30 days, this security got 2 buy, 0 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and strong 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 28.3% during the next 3 months and, with a 90% probability hold a price between $52.07 and $71.83 at the end of this 3-month period.

NIO Inc.

The NIO Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $44.11 and $45.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, July 16, 2021, and so far it has risen 9.28%. 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 months Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $43.68 and $39.84.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 $43.68. If this is broken, then the next support from accumulated volume will be at $39.84 and $39.57.

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 $3.38 between high and low, or 7.68%. For the last week, the stock has had a daily average volatility of 5.97%.

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 Inc. stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Check full NIO Inc. forecast and analysis here.