Stronger technical forecast for NIO stock price after Thursday trading.

The NIO stock price gained 3.63% on the last trading day (Thursday, 28th Dec 2023), rising from $9.10 to $9.43. During the last trading day the stock fluctuated 4.93% from a day low at $9.12 to a day high of $9.57. The price has risen in 8 of the last 10 days and is up by 26.92% over the past 2 weeks. Volume fell on the last day by -8 million shares and in total, 91 million shares were bought and sold for approximately $858.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Jun 12, 2023, it was reported that UBS gave NIO a "Neutral" grade with a "hold" action.

Given the current short-term trend, the stock is expected to fall -4.48% during the next 3 months and, with a 90% probability hold a price between $6.71 and $9.01 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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. 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 $8.76 and $7.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, December 01, 2023, and so far it has risen 31.89%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $8.35 and $7.92.There is a 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 finds support just below today's level at $8.35. If this is broken, then the next support from accumulated volume will be at $7.92 and $7.43.

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 4.93%. For the last week, the stock has had daily average volatility of 5.89%.

NIO holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect NIO stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.