The analysis discusses NIO stock, which closed at $4.81. Buyers are stepping back in, holding the $4.46 support. Sellers attempted a move downwards, but buyers responded with a green wide bar. The price is expected to test $5.10 and $5.20. The stock has entered a zone after breaking resistance levels and forms a flag and pole pattern. On the weekly, descending triangle patterns are observed with breakouts. A shorter-term triangle pattern is noted within a longer-term descending triangle. Buyers broke out of these patterns. The daily chart shows a move out of resistance at $7.70 and volatile price action to $3.38. The price is currently forming support at $4.46, forming flag and pole. The presenter expects a short squeeze to $5.20 and then a test to $6. If $4.46 support fails there is downside risk.