$AMD has been in a “Go” trend since early October.
The “Go” trend started as price gapped higher and we saw higher highs over the next several weeks. After the most recent high, over $267 we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, following that high, we saw GoNoGo Trend paint a series of weaker aqua bars as price fell from that level. During that time, GoNoGo Oscillator fell to test the zero line from above where we can see that it has found support after getting stuck at that level and embroiled in a GoNoGo Squeeze. After a virtual tug of war between buyers and sellers at this level we see that the oscillator has broken into positive territory as GoNoGo Trend paints a strong blue “Go” bar. This tells us that momentum is resurgent in the direction of the “Go” trend and we will watch to see if this gives price the push it needs to set a new higher high in the coming days.
