Peter Smith
⬤ NIO stock has been stuck in consolidation mode after a sharp pullback, with shares hovering around the 0.618 Fibonacci retracement level near $5. The stock dropped from highs above $7 and briefly touched deeper support near the 0.786 level before bouncing back into a sideways pattern. Right now, the price is just drifting without any clear direction—neither breaking down nor pushing higher.
⬤ Multiple attempts to climb above resistance around $5.5 and $6.1 have failed, keeping NIO locked in a tight range. The market commentary suggests staying patient during this phase: "This period requires patience after years of holding the position." The stock is basically in limbo, waiting for something to tip the scales one way or another.
⬤ With price sitting above lower support but unable to reclaim higher ground, NIO remains in waiting mode. This standoff between buyers and sellers shows the market hasn't made up its mind yet. The next real move—whether up or down—will likely determine if this consolidation drags on longer or finally breaks into a trending phase.
Peter Smith
