$FOXA has been in a “Go” trend since October 30th.
During a period of uncertainty with GoNoGo Trend painting amber “Go Fish” bars, GoNoGo Oscillator was able to break through the resistance of the zero line and regain positive territory. With heavy volume, and on bright blue “Go” bars, price was able to make a slightly higher high near the middle of November. Following that high, we saw two Go Countertrend Correction Icons (red arrows) indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, we saw a majority of weaker aqua bars as price fell and moved mostly sideways since. GoNoGo Oscillator fell to test the zero line from above and we saw an extended Max GoNoGo Squeeze build, reflecting the virtual tug of war between buyers and sellers at these levels. Now, with GoNoGo Trend once again painting strong blue “Go” bars as it challenges overhead resistance for a new high, we see that GoNoGo Oscillator is finding support at zero. We will watch to see further signs of Go Trend Continuation (green circles) as the oscillator bounces off the zero line. If it does, price may well make a charge toward higher highs.
