NIO has been consolidating and is looking for the next leg up. The EV market is hot right now in the US and China. NIO is one of the top contenders to TSLA . Looking to enter a Long Diagonal here since IV is relatively low. Will wait to enter my position until NIO shows support at around the $56.00 level, otherwise I will be entering at the .618 fib retracement at $49.00.