Strong day for NIO stock price on Wednesday rising 7.51% to $4.87, 2 weeks ago


The NIO stock price gained 7.51% on the last trading day (Wednesday, 3rd Jul 2024), rising from $4.53 to $4.87. It 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 last trading day the stock fluctuated 9.80% from a day low at $4.59 to a day high of $5.04. The price has been going up and down for this period, and there has been a 9.93% 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, 37 million more shares were traded than the day before. In total, 71 million shares were bought and sold for approximately $347.79 million.

On Jun 08, 2024, it was reported that Barclays gave NIO a "Underweight" grade with a "hold" action.

The stock lies in the middle of a very 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 3.99% during the next 3 months and, with a 90% probability hold a price between $4.34 and $6.15 at the end of this 3-month period.


Mostly positive signals in the chart today. The NIO 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 $4.49 and $4.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 17.07%. 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.

NIO finds support from accumulated volume at $4.72 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 $0.450 between high and low, or 9.80%. For the last week, the stock has had daily average volatility of 5.89%.

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 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 forecast and analysis here.