Nio contraction

Nio is a position I likely wouldnt hold long term as the company is not profitable and I usually avoid china like the plague. I do however find interest in this as TSLA heats up and the stock has been ranging. I drew new daily fibs from a semi-recent swing high. The stock is basing around 4.3 and there is an obvious general resistive area I drew with the red line. This is the first real attempt to take an EMA in a while and I think the pivot is to follow after this stochastic RSI resets a bit.

-I look for another bounce around 4.3$
-My strategy is to sell 4.5$ puts like I did last Friday on the really red days
-If I am assigned I will sell covered calls to exit and repeat