NIO Showing Signs of Reversal

NIO stock NIO, another 2020-2021 EV stock darling that has fallen from grace, came down on March 15th, 2022 to test its IPO day high of 13.80. Price has since rebounded from this level showing signs of respect for it as support. This week that rally has pulled back to respect the 50% Retracement of the reaction. Resistance is clear at the 50% Retracement of the 2020 rally at 34.13. Taking a long trade up to that level as a target, with a stop below the recent dip, poses a good reward/risk.

I am noticing a potential distinct trend in EV related stocks showing signs of recovery following the "Pandemic Round Trip"