Stronger technical forecast for NIO Inc. stock price after Monday trading.

The NIO Inc. stock price gained 4.15% on the last trading day (Monday, 7th Jun 2021), rising from $41.94 to $43.68. , and 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 day the stock fluctuated 5.94% from a day low at $41.44 to a day high of $43.90. The price has risen in 7 of the last 10 days and is up by 28.24% 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, 12 million more shares were traded than the day before. In total, 53 million shares were bought and sold for approximately $2.32 billion.

Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell is very positive about NIO and gave it a "Neutral - Buy" rating on June 01, 2021. The price target was changed from $57.60 to $58.30.Over the last 30 days, this security got 2 buy, 0 sell, and 0 hold ratings.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $41.88, a level that may pose a second chance to hit a runner. According to fan-theory $53.66 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. The NIO Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $41.08 and $37.73. 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 39.91%. 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). 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 $41.35 and $41.32.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 $41.35. If this is broken, then the next support from accumulated volume will be at $41.32 and $36.13.

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 $2.46 between high and low, or 5.94%. For the last week, the stock has had a daily average volatility of 4.97%.

The NIO Inc. stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy Candidate candidate.