NIO 1DNIO Inc. Sponsored ADR Class ABATS:NIOM-PDLWe can see a nearly complete corrective structure to the 61.8% with a clear ABC. Repeated reactions in the 4.48–4.38 supply zone have generated significant liquidity in the form of stop losses. Wyckoff: A potential Spring is currently developing, though further downside remains possible, particularly to sweep liquidity. If price advances, key resistance zones lie ahead (200 EMA, AVWAP confluence, and ultimately the 61.8% retracement from Wave B)