NIO is sitting on parabolic uptrend support line. Since early Nov, price has formed a potential head and shoulders reversal pattern. Volume signature also supports the pattern. If price breaks below diagonal trend line with higher volume and also breaks below horizontal support line then the pattern will be confirmed. Measured move from the head and shoulders would be on the next horizontal trendline support and also between .5 and .382 fib retracement area. To invalidate the pattern, price needs to move above prior high of 55.70. I would expect a little bounce off daily 50 EMA or 50 SMA. Things might get really interesting from there.
