Getting ready for move up and possibly breaking out through resistance
Tight consolidation with potential breakout in either direction for NET
NIO has been consolidating for the last few weeks after a huge rally and reaching an ATH of $52. After reaching that ATH, it sharply dropped back below $50 and has had a strong resistance of $50 ever since. Once it is able to break above $50, I think we will see another big run to $55 and then to $60. If it can't hold its current support in this wedge, we can see...
NIO 9/17/20 Daily Trend Elliot Wave