The analysis of NIO stock identifies a descending triangle pattern on the weekly chart, stemming from a 7.70 high. A recent breakout from a smaller descending triangle around 3.38 led to an approximate 100% upward move, reaching a 5.20 level. The analysis notes price indecision around 4.46 resistance with sellers attempting to push the price lower. The presenter suggests that maintaining above 4.46 could lead to testing 5.20, and a move below 4.46 increases the risk of a retracement. Further bullish movement requires breaking $5.50. The support near 4.20 is also relevant.