NIO taking a breather

21

January 2021

By

Alex Cole

Rio is once again back at the zero line on the GoNoGo Oscillator.

Still in a “Go” trend, we are seeing momentum cool off and we will now look to see if the GoNoGo Oscillator will rally off the zero line and in which case suggest renewed momentum and a continuation of the “Go” trend that is in place in price. 

If the zero doesn’t hold as support, we may see further correction in price.   We have already pulled back a little after the short term counter trend red correction arrow was flagged a few days ago.