Stronger technical forecast for NIO Inc. stock price after Monday trading.StockInvest.us, 1 month ago
The NIO Inc. stock price fell by -1.86% on the last day (Monday, 26th Jul 2021) from $43.99 to $43.17. and has now fallen 4 days in a row. During the day the stock fluctuated 7.04% from a day low at $41.93 to a day high of $44.88. The price has fallen in 6 of the last 10 days and is down by -6.84% for this period. Volume has increased on the last day by 5 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, 54 million shares were bought and sold for approximately $2.34 billion.
HSBC is very positive about NIO and gave it a "Hold - Buy" rating on July 09, 2021. The price target was set to $69.00.Over the last 30 days, this security got 2 buy, 0 sell, and 0 hold ratings.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $41.53 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 29.12% during the next 3 months and, with a 90% probability hold a price between $53.63 and $73.22 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Friday, July 16, 2021, and so far it has risen 0.86%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO Inc. 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 $44.33 and $45.89. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
On the downside, the stock finds support just below today's level from accumulated volume at $39.84 and $34.87.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 $39.84. If this is broken, then the next support from accumulated volume will be at $34.87 and $34.33.
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 $2.95 between high and low, or 7.04%. For the last week, the stock has had a daily average volatility of 5.66%.
NIO Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Sell to a Hold/Accumulate candidate.Check full NIO Inc. forecast and analysis here.