NIO has been consolidating for the last few weeks after a huge rally and reaching an ATH of $52. After reaching that ATH, it sharply dropped back below $50 and has had a strong resistance of $50 ever since. Once it is able to break above $50, I think we will see another big run to $55 and then to $60. If it can't hold its current support in this wedge, we can see it retrace back down to low $40s or even down to $38 support level.