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The NIO stock price gained 10.78% on the last trading day (Thursday, 10th Nov 2022), rising from $9.28 to $10.28. During the last trading day the stock fluctuated 7.76% from a day low at $10.05 to a day high of $10.83. The price has fallen in 6 of the last 10 days but is still up by 3.01% 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, 80 million more shares were traded than the day before. In total, 81 million shares were bought and sold for approximately $828.31 million.
The last rating was given by Deutsche Bank on Nov 08, 2022. The price target was changed from 39 to 20.Over the last 90 days, this security got 0 buy, 5 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -48.85% during the next 3 months and, with a 90% probability hold a price between $4.64 and $6.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
There are mixed signals in the stock today. 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 $10.32 and $12.60. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, November 09, 2022, and so far it has risen 10.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month 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 $9.69 and $9.49.There is a 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 finds support just below today's level at $9.69. If this is broken, then the next support from accumulated volume will be at $9.49 and $9.45.
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 $0.780 between high and low, or 7.76%. For the last week, the stock has had daily average volatility of 10.58%.
NIO holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Check full NIO forecast and analysis here.