I can see a large 4HR Accumulation on "Cable" This is the Wychoff Accumulation 1 schematic. I have setup 2 different trades one targeting the initial break of the descending trendline and the other is targeting the previous weekly high.
I see a Wychoff Distribution Schematic no. 1 forming. I have setup 2 trades one is targeting the SOW area within the schematic and the second is a higher R:R trade of 1 : 6.3 targeting the previous 30M / Hourly support level.
We'll see how it plays out
I see a potential re-accumulation phase with NIO stock. The earnings release is on March 1st and is looking to be a postive one so this could be a great catalyst for the stock and fuel a push higher as projected on the chart.
I see $45 as our absolute low where we must bounce. If we can accumulate at this price the stock will be in a great position.