The analysis focuses on NIO stock. The stock closed at $6.58 after breaking out of a flag and pole structure and engulfing the price action from the prior three days. On the weekly timeframe, the analyst discusses descending triangle patterns, noting that breaking out of a descending triangle led to a 100% upward movement. Currently, the stock has broken out again. The analysis notes long-term resistance and says that NIO could retest $7.70, a high from earlier in the year, with a medium-term target of $9.26, and a longer-term target of $12.46. The analysis suggests that volume and buyer pressure could drive the stock up to $7.70 within a few weeks, assuming the bullish trend continues. Sellers are currently not presenting a challenge to buyers but there's a possibility of volatility around the resistance near the 6.83 level which if broken could cause the price to reach 7.70 if it doesn't drop to 3.02 invalidating the analysis.