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The NIO stock price gained 5.88% on the last trading day (Tuesday, 10th Oct 2023), rising from $8.34 to $8.83. During the last trading day the stock fluctuated 6.35% from a day low at $8.35 to a day high of $8.88. The price has risen in 6 of the last 10 days and is up by 4.99% 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, 3 million more shares were traded than the day before. In total, 42 million shares were bought and sold for approximately $370.94 million.
On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.27 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -26.91% during the next 3 months and, with a 90% probability hold a price between $6.04 and $8.89 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Monday, October 09, 2023, and so far it has risen 5.88%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.68. On a fall, the stock will find some support from the short-term average at $8.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
NIO finds support from accumulated volume at $8.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.530 between high and low, or 6.35%. For the last week, the stock has had daily average volatility of 4.35%.
NIO holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Check full NIO forecast and analysis here.