The EV company reached today a New 52 Week Low despite the good news this morning regarding the new SUV Model ES7 and the $83 Price Target from Credit Suisse.
This morning Credit Suisse released a note where it maintained the Outperfom Rating and the $83 Price Target for NIO plus the first leaked photos of the new SUV Model ES7.
NIO hit the last 52 Week Low on Dec.20th at $27.73 and jumped from there up to $31.32 gotting rejected and creating a lower high from $31.66 – two weeks ago.
As the time we’re writing, the main 7 EV Makers are Red on the day with the Americans TESLA (-1.25%), LUCID (-2.31%), RIVIAN (-5.01%), and FSR (-3.32%) down beyond the biggest Chinese EVs NIO (-6.07%), XPENG (-4.49%), LI (-3.75%).
Technical Analysis indicates that NIO needs to hold the Diagonal Support (check the image below) around $25-26 and later break the Weekly downtrend around $38 towards new highs.