Bullish signal from Nio？

Nio has strong supports around 4.01 and 3.61. It is looking **bullish** after the breakout from downtrend line 1. https://preview.redd.it/xcotud6e5gle1.jpg?width=750&format=pjpg&auto=webp&s=046c302c7b1d4e2e3ce457f8a1570d163b67b1d8 It is close to the longer term downtrend line 2 and may break out soon. It may reach around 7.71 resistance in the weeks or months ahead. Xpeng had already broken out. It is expected to turn profitable this year. For Nio, it is expected to turn profitable next year. So it may break out later than Xpeng. Also, its 3rd plant is expected to start operating in Q3 and deliveries may ramp up. Since the market factors in 6-9 months ahead, Nio may break out soon. Currently, China is having its own AI and tech rally. BYD, Xiaomi and Xpeng have already rallied. Li Auto and Nio may join in soon.