Price taking a turn for the worse for $NIO on the weekly chart.
GoNoGo Trend has been painting “NoGo” bars since July and the past month has seen strong purple bars. This week we are seeing price fall further from a horizontal level that once was support. Confirming the price move, GoNoGo Oscillator broke out of a max GoNoGo Squeeze into negative territory and so it seems there is strong market participation in this move lower in price. There could be some support at June’s runaway gap but if price fails at that level we will look for further price deterioration.
