- Summary:
- The Nio share price has retreated after initial excitement over the Nio ET7 luxury sedan 2022 model waned.
The Nio share price is trading slightly lower on the day following Monday’s uptick, which followed the leaking of details of the new Nio ET& luxury sedan model. The Nio share price had gained more than 7% on the day.
Additional details for the new Nio luxury ET7 sedan vehicle have emerged before its scheduled 2022 release date. The leaked information reveals that the car model will come without pre-installed batteries, meaning that car owners would be able to get and swap discharged batteries at any of the hundreds of battery swap subscription centres.
The Nio share price is down 0.51%, giving up earlier intraday gains as of writing.
Nio Share Price Outlook
The intraday drop is now testing the 41.31 support level, where the 200-day moving average is found. A breakdown at this level allows the 39.33 support to come into view, leaving the 18 November low at 37.50 and the 35.91 price mark as the additional support targets to the south.
On the flip side, a bounce on the 41.31 support clears the pathway for bulls to march towards the 43.14 price resistance. 46.07 and 47.58 are additional price targets to the north if the bulls can take out the barrier at 43.14.
Nio: Daily Chart
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