The analysis focuses on NIO stock, currently at $6.28. It identifies descending triangle patterns on the weekly timeframe, noting a prior breakout leading to a 100% upward move to $7.70. A smaller triangle within a longer-term descending triangle broke out, projecting a rise to $5.20. The analysis spots a flag and pole range, forecasting a stronger breakout to $7.70. If it is broken, $9.20 is a high possibility of happening. The recent price action shows volatile moves breaking resistances, indicating price consolidation, with buyers stepping in, making the price predictable. The analysis considers a pullback towards $6, which is quickly recovered by buyers, as it is the $6 mark is key support. On the hourly timeframe, a descending support is forming with less volatility. The main resistance to test in order to continue upwards is 6.83.