NIO: the decline slows but sellers still hold the wheel

NIO has reached week 9 of a sell signal: this week closed down 1.4%, the mildest weekly decline of the last four, with sell volume at 83%. Underneath, though, MACD and CMF keep worsening compared with a month ago. On the daily chart a double bottom in the 4.7 area is holding, with a 7% intermediate rebound that hasn't yet changed the underlying direction.