NIO - February 7, 2021

Nio is looking for a breakout after recent pullback over the past several weeks. Resistance lies at 60 and 66 with a price target to the upside of 75. If support at 54.54 fails, the trend may become invalidated. There was an unusual call option of 1.6m for 62 strike expiring February 19, 2021. Nio has earnings after hours on March 17, 2021 which acts as another anticipatory catalyst for the price to push higher.