NIO: A Strong Technicals and Growth Catalysts

Since July 2020, NIO has successfully closed the Fair Value Gap (FVG) and reclaimed its position above the resistance line of a falling wedge. This breakout is crucial, indicating a potential reversal of the previous downtrend. Moreover, the monthly Relative Strength Index (RSI) falling wedge has been convincingly breached, accompanied by a bullish Morning Star candlestick pattern. Similar price action in October 2019 led to a remarkable surge of over 300%.
Two Weeks Chart Analysis:
On the shorter timeframe, NIO has broken out of a smaller falling wedge, suggesting an imminent move towards the $7 zone. However, the technical indicators hint at a more significant upside potential. Notably, the two bullish confirmations on the two-week chart, coupled with the RSI breakout, underscore the bullish momentum.

In addition to the technical strength, fundamental factors further support the bullish thesis. NIO's partnerships, positive sales trajectory, and expansion into the European market are poised to drive growth. Moreover, the anticipation of NIO's entry into the US market adds to the positive sentiment.

While the outlook appears promising, it's essential to acknowledge potential risks. Shorters should exercise caution as the stock is undervalued, and attempting to short might be risky. Instead, focus on long positions, particularly at opportune entry points. Look for corrections around $4.6, with potential support at $4.17. Alternatively, consider entry points near strong support levels such as $5.3 (0.5 Fibonacci retracement) or $4.65 (0.382 Fibonacci retracement).

Personally, I entered positions at $4 and $3.9, with a stop-loss set at $3.6 to manage risk. I plan to take profits at $10 and $16, aiming for reasonable gains without succumbing to greed.
In conclusion, NIO exhibits strong technicals and promising growth prospects, making it an attractive opportunity for bullish investors. Exercise diligence, manage risk, and stay informed to capitalize on the potential upside.
I am not a financial advisor, and this analysis is based on personal research and observation.