Volatile ride for NIO stock price on Friday moving between $11.98 and $13.32

The NIO stock price gained 8.33% on the last trading day (Friday, 2nd Dec 2022), rising from $12.12 to $13.13. During the last trading day the stock fluctuated 11.19% from a day low at $11.98 to a day high of $13.32. The price has fallen in 6 of the last 10 days but is still up by 24.69% over the past 2 weeks. Volume fell on the last day by -53 million shares and in total, 174 thousand shares were bought and sold for approximately $2.29 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.

The last rating was given by Jefferies on Nov 28, 2022. The price target was changed from 42.3 to 11.26.Over the last 90 days, this security got 2 buy, 10 sell, and 0 hold ratings.

Given the current short-term trend, the stock is expected to fall -45.77% during the next 3 months and, with a 90% probability hold a price between $3.48 and $7.12 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 $11.34 and $10.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, November 09, 2022, and so far it has risen 41.49%. 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.

NIO finds support from accumulated volume at $12.73 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 $1.34 between high and low, or 11.19%. For the last week, the stock has had daily average volatility of 8.89%.

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 Sell to a Buy candidate.