What’s in store for Chinese EV manufacturer NIO this year? As the company plans to unveil new vehicle models, potential NIO investors should be on alert. They shouldn’t rush into a trade until the price is at the right level.
Plan your entry strategy with NIO stock carefully
It’s advisable to monitor key price levels as a way of estimating seller exhaustion. When NIO stock breaks above the $15 level, it will mean that big-money buyers will most likely step in. That’s when NIO stock could start to rise.
The catalyst for NIO will be the introduction of new vehicles
NIO’s resilience last year was remarkable, but what will the company do this year to maintain its forward momentum?
Vijay Rakesh, an analyst at Mizuho, considers NIO as “well positioned as a leading player in the premium EV market in China.” According to Rakesh, the company differentiates itself with its own battery-as-a-service replacement program which could be a benefit as it expands into Europe.
The company will introduce two new EV models – the EC7 and ES8 SUV vans. Rakesh noted that ET7 and ET5 models, which were introduced recently, are rolling out well and investors should verify if the sales numbers of the EC7 and ES8 models match reality.
What to do with NIO stock currently?
Just because you believe in a company’s future, doesn’t mean you have to buy its shares at any price. The important thing is to time your entry correctly, so keep a close eye on the $15 level. If it hits that price point, it’s a great signal to enter.