NIO broke out from its consolidation bullish pennant today with increasing volume. Daily momentum has turned positive. Lets see if bulls can take continue to take the charge until earnings in early March.
NIO has been in a consolidation pattern since NIO day at the beginning of January. The range has been tightening into a strong wedge pattern. It has held the $54 area and could easily retest the NIO day highs in the near term.
