But TSLA’s not the only show in town. Its smaller Chinese peer,
The weekly chart just had three consecutive inside candles, which have revolved to the upside. This is important because NIO is extremely volatile. It had a huge surge in late 2019, followed by a big drop. That trio of inside candles suggests it’s calmed down and may be ready to start trending again. Today it’s breaking the highest of those three candles around $3.07.
Fundamentally, NIO has had issues with coronavirus impacting demand and production. But more recently (April 7) the company reported a doubling of March deliveries.