Nio Descending triangle breakout?

Hello guys I’ve been looking at this chart for the past few weeks and noticed a descending triangle forming. If the breakout is confirmed my price target would be 46.29 as that was a previous resistance from March 15, 2021. If that level is broken then my next pt would be 54.20and that was a previous support. If this plays out well we could see nio heading back to it’s all times highs in the next upcoming weeks. However if nio doesn’t confirm the breakout we could see it pulling back to support at 34.87

This is just my idea and this isn’t a financial advice please trade at your own risk. Happy trading!