Saad Ullah
⬤ NIO climbed on Wednesday, pushing toward $5.15 as traders spotted a BAT harmonic pattern developing on the charts. The stock bounced from its low near $4.96 and is now heading toward upper resistance zones that could complete the technical setup.
⬤ The pattern shows NIO rebounding from the 0.886 Fibonacci level around $4.96, with upside targets mapped at $5.30, $5.42, $5.56, and the top projection near $5.75. That final zone represents where the pattern's D-point should land if everything plays out as expected. The chart also marks potential reversal areas between $5.65 and $5.75, where price might pull back.
⬤ Trading volume picked up during the recovery, and the stock is testing a descending trendline that's been keeping a lid on gains. The BAT pattern relies on precise retracements and extensions, giving traders a technical roadmap for where NIO might head next. Whether the stock follows through or breaks down from here will tell us a lot about its near-term direction.
Saad Ullah
