The analysis focuses on NIO stock using technical chart patterns. The stock broke out of a descending triangle, leading to a 100% upside move. A new resistance around $6.83 is identified, with buyers defending the $6.08 level. The analysis looks at a weekly chart, noting a break from a descending triangle pattern around the $3.38 support, which led to a 100% move. A flag and pole structure is identified at $5.20, with buyers aiming for $7.70. The analysis shows a textbook breakout structure from a descending triangle. Recently, squeeze levels have formed, buyers are overcoming seller's attempts, and there are potential breakout. On the hourly chart the analyst says there is a nice breakout from the resistance at 6.08 level to reach the 6.83 resistance with a 9% move on the upside.