$GM has been in an up trend since October of last year.
Since then, we have seen a series of higher highs and higher lows as price has climbed over $83. At that high, we saw a Go Countertrend Correction Icon (red arrow), indicating that price may struggle to go higher in the short term. Indeed, we have seen price move sideways or slightly lower since that time with GoNoGo Trend painting a long string of weaker aqua bars. GoNoGo Oscillator fell to test the zero line and even failed to find support at that level falling into negative territory. However, in an encouraging turn of events, GoNoGo Oscillator has burst back into positive territory on heavy volume as GoNoGo Trend paints a fresh strong blue “Go” bar above horizontal resistance. We will look to see if price can consolidate these new highs before perhaps climbing higher.
