NIO is analyzed using weekly and hourly timeframes. The stock has broken out of a pennant-like range, which suggests a continuation to the upside. The analysis points out descending triangles on the weekly chart, a breakout with a move of approximately 100% increase in stock price. The analysis shows that the NIO experienced rejection around the 5.20 level, but also shows it remained strong despite selling pressure. Buyers are in control, a potential retracement to $5.00 could occur, but if it holds then the next target is at $5.40 and mid-term target at $6. It is thought the 100% movement should be continued from the breaking from the short and long descending triangle and the buyer are showing strength.