NASDAQ:NWTN is facing some resistance at the 50-day and 200-day moving averages, which are currently at $8.64 and $9.87, respectively. A break above these levels could signal a bullish trend change and attract more buyers.
NWTN is currently below both its 50-day and 200-day MA, which are considered as important support and resistance levels. A break above these levels could indicate a bullish crossover and a trend reversal.
The company has also agreed to acquire a strategic stake in Evergrande New Energy Auto, a leading electric vehicle manufacturer in China, for $500 million6. The company’s new energy vehicle Rabdan One has been officially recognized with the “Made in the Emirates” mark, which signifies the quality and innovation of the product.