NIO

There is so much hype about this stock that it is hard to ignore it. For a record I do not hold this stock. Here is my view.
It is certainly in a consolidation mode just like many other stocks. Downward major and minor channels cross lines are very close to a break out point. This breakout momentum is supported by an evidence of upward RSI and Stoch. indicators. Of course market conditions will dictate how soon it will take place. If breakout does take place then next stop would be a major level of resistance which is previous ATH. It could bounce back and then march to new ATH or just fly directly to ATH. I think first scenario is most likely. I forgot to add 20, 50 and 200 DMA. It looks like Golden Cross is in a making
Good luck