Nio Inc, finding resistance at zero on the GoNoGo Oscillator

17

March 2021

By

Alex Cole

NIo Inc, fell out of its monster “Go” trend on February 19th.  

Since then it has entered a “NoGo” trend and has set consecutive lower highs and lower lows.  During that time the GoNoGo Oscillator has remained below zero on heavy volume, confirming the “NoGo” trend. Currently, the GoNoGo Oscillator is testing the zero line from below where it should find resistance.  If it is rejected and falls back into negative territory then we’d expect another leg down in price.  Initial target would be the low around $32.