Contemporary Amperex TechnologyCo. Ltd

What is Contemporary Amperex Technology Co. Ltd (CATL)?

Company Overview Contemporary Amperex Technology Co. Ltd (CATL), is a global leader of new energy innovative technologies, committed to providing premier solutions and services for new energy applications worldwide. It engages in the manufacture and sale of electric vehicle and energy storage battery systems worldwide. The company’s products are used in road passenger transport and heavy-duty transport applications. The company was founded in 2011 and is headquartered in Ningde.

CATL, is it a good pick?

Last week Lightning eMotors announced a strategic EV battery partnership for supply of CATL battery systems. The vehicle production with CATL packs is expected to begin in March 2022. The battery giant stands as a crucial link in a green-technology supply chain increasingly dominated by China.

Technical analysis

From Dec 15th to Dec 24th the share price went down -15.34% to $565.23. From Dec 24th to Jan 4th the price went up 7.93% to trade around $608.25. The RSI is falling near the limit of the sold zone and the MACD shows the stock still at a negative tendency. The price could keep falling around -8.68% to trade around $556.44 in the short term.