Volatile ride for NIO Inc. stock price on Thursday moving between $27.80 and $33.04

The NIO Inc. stock price gained 14.76% on the last trading day (Thursday, 30th Dec 2021), rising from $28.25 to $32.42. During the day the stock fluctuated 18.85% from a day low at $27.80 to a day high of $33.04. The price has fallen in 7 of the last 10 days, but is still up by 5.29% 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, 86 million more shares were traded than the day before. In total, 136 million shares were bought and sold for approximately $4.42 billion.

On Dec 16, 2021 "Deutsche Bank Aktiengesellschaft" gave "$70.00" rating for NIO. The price target was changed from $30.22 to 1.9%.

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 -16.16% during the next 3 months and, with a 90% probability hold a price between $22.90 and $32.57 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Monday, December 20, 2021, and so far it has risen 15.13%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIO Inc. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $35.38. On a fall, the stock will find some support from the short-term average at $30.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

NIO Inc. finds support from accumulated volume at $32.15 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 $5.24 between high and low, or 18.85%. For the last week, the stock has had a daily average volatility of 8.06%.

NIO Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Strong Sell to a Hold/Accumulate candidate.