Stronger technical forecast for NIO Inc. stock price after Friday trading.StockInvest.us, 4 months ago
The NIO Inc. stock price fell by -0.75% on the last day (Friday, 28th May 2021) from $38.91 to $38.62. During the day the stock fluctuated 4.16% from a day low at $38.17 to a day high of $39.76. The price has risen in 7 of the last 10 days and is up by 15.56% over the past 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 58 million shares were bought and sold for approximately $2.24 billion.
Mizuho is very positive about NIO and gave it a "Positive - Buy" rating on May 03, 2021. The price target was set to $60.00 → $65.00.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 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 -15.50% during the next 3 months and, with a 90% probability hold a price between $25.24 and $35.53 at the end of this 3-month period.
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 $36.52 and $37.00. 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 23.70%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
NIO Inc. finds support from accumulated volume at $38.11 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 $1.59 between high and low, or 4.16%. For the last week, the stock has had a daily average volatility of 5.75%.
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy Candidate candidate.Check full NIO Inc. forecast and analysis here.