NIO Inc. Sponsored ADR Class A
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NIO Pennant Forming

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NIO is forming a bullish pennant on the 1 hr. time frame. Looks bullish to me but still have to be cautious as covid news could drive it either way. I expect it to hit some resistance at the all time high but if we break new all time highs, I could see the price going to $25 range as the new price target. I could honestly see a breakout within the couple of days. Additionally, I don't see any divergence at the moment so that's a good sign. Look for high volume to confirm breakout. This is not financial advice and I am still a beginner at this.

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