$NIO Inc (NIO.US)$ TA for Nio. From Fig. 2, Nio shares rose ...

TA for Nio.

From Fig. 2, Nio shares rose to the MA200 and Downtrend line (formed by joining the Jan 2021 and Feb 2021 peaks) and got rejected there. If it is bullish, it may fall to the MA20 and rebound from there. If the MA20 crosses above the MA200, the price may break out of the MA200 and Downtrend line. Resistances are around 12.38, 13.22 and 16.54. The last resistance is the top trendline of the Falling wedge 1.

If Nio falls below the MA20, the bottom trendline of Falling wedge 2 may provide support. The support is around 5.84 which is the support in Jan 2019 as shown in Fig. 1.

The falling wedges are bullish patterns and Nio may trade within the falling wedges and bottom in the next few months.