Nio Share Price Opens Higher As ET5 Sedan is Unveiled

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Written By: Eno Ikenna Eteng

Dec 21, 2021, 15:09 GMT 15:09

Summary:

The Nio share price is up slightly this Tuesday after the unveiling of the ET5 sedan EV, with deliveries to start in September 2022.

After a period of downtrending prices, the Nio share price has started Tuesday’s trading session on
a positive note, after the unveiling of its ET5 Sedan EV.

The Nio ET5 is touted as the new brand capable of breaking Tesla’s hold on the Chinese market and selected
global markets. Armed with a sporty design and a full range of smart technologies, the car offers 360kW of electric
power, fed through an induction and magnetic motors at the front and rear, respectively.

The ET5’s starting cost is $51,000 for a 75-kWh batter pack, with the first deliveries expected in 2022.
The company has also said it would start confirming orders for its ET7 in January 2022, with delivery set for March 28, 2022. The Nio share price is up 5.29% as of writing.

On the other hand, a breakdown of the 29.25 price mark as a result of lack of bullish momentum allows the bears
to aim for the 25.45 price mark. Additional support targets are found at 23.83 and 22.26.

Nio: Daily Chart

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This post was last modified on Dec 21, 2021, 15:09 GMT 15:09

Written By: Eno Ikenna Eteng

Eno's work as a technical analyst and author since 2009 is well recognized in the industry and on several freelance platforms. He is also a member of the prestigious UK Society of Technical Analysts and a top-ranked participant in the Basic Investment Banking and Asset Management simulations with Amplify Trading.