NIO to rally and test prior high
GoNoGo Charts is showing a low risk entry (green circle) into the the “Go” trend that is in place.
We saw a long GoNoGo Squeeze in effect for the past several bars.
Now, the GoNoGo Oscillator has found support at the zero line and broken out of the squeeze into positive territory.
We expect price to rally in the short term and likely test the previous high around $16.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish)
The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
We saw a long GoNoGo Squeeze in effect for the past several bars.
Now, the GoNoGo Oscillator has found support at the zero line and broken out of the squeeze into positive territory.
We expect price to rally in the short term and likely test the previous high around $16.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish)
The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
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