NIO is looking to make a parabolic move similar to its counterpart, Tesla. After a establishing a bottom base at the $1-$2 range,
NIO exploded to $5.65 and has consolidated nicely to form a new base of support at the $4 level. If this does shape up to be a parabolic advance the current level would be the 2nd base. A move up to the $6-8 range would be the 3rd base which could be followed by a near doubling in price. This move would happen rather quickly. My aggressive targets are above. I have made entries at the $4 level with stops below the consolidation lows. This would make for a nice R/R
Note
If you don't have a position in 
NEO, the volume surge and pullback this can give you an opportunity to identify your entry point and define your risk. I always use a stop loss and always recommend you do as well. Less is more :-)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.