NIO ended wave 2 and started wave 3 in the beginning of March with the @32 low, but now NIO has broken out of the 3rd wave. Arguable the 3rd wave is still in progress, but unless Nio bounces at the previous $32 level (resulting in a bullish double bottom), any new lows made would make this a continuation of wave 2 with no clear end in sight. Long term I am bullish on Nio but short term if we break below $32 things will get very choppy.