You see this volume reversal on a stock like NIO and you have a hard major support bottom set. Now the question becomes is the macro market sell off over or more to go? I see all the scenarios people are looking for but NIO should be a first in buy. Amazing volume, topped off by a 1.5M minute in the early afternoon.
It was my one large after hours purchase, having been away from the screens today. I watched the large sell candle at $38.50 and bought at $38.40 after seeing small time traders bailing in 8 share to 500 share trades. It worked for that institution driving out the weak. Then we had a 60k share buying spree the last 5 minutes of after hours trading.
The set up looks like immediate continuation but if the macro markets have any selling into a double bottom retest that left side daily pattern, I am willing to wager another steak and lobster dinner, will NOT extend beyond Model T pullback.
I haven't pulled up any other charts but will look for my Top 5 and post similar chart findings. As for NIO? Not a single time has it not made a 35% ADDITIONAL trend move upward after posting a 200M+ buy side share day. Not a single time. I like those odds.