$NIO is turn to stage 2 ?

15 Jul 2023

NIO is nearly turn to stage 2

Technical Analysis Big picture:
1) NIO is going on down trend for a year and 3 month ago just have low volatility and low volume
2) Make Sideway down and forming wedge shape with RSI overdrive up. Possibility highly to make U-turn
3) HSI index make pattern H&S. If complete price break upper resistant it's time of chinese stock rally
4) Now it has 2 resistant to confirm stage 2 is breaking EMA200 and Breaking base of wedge shape to confirm

Technical Analysis Small picture:
- NIO break the wedge and make lower high forming picture Cup and Handle

Hope NIO get well soon
Good Luck