$ADI has been in a “Go” trend since November 28th.
We saw price race higher, setting higher highs and higher lows. After the last higher high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, a few weaker aqua bars followed and GoNoGo Oscillator made a series of lower highs before testing the zero line from above. As it immediately found support at zero, we see GoNoGo Trend painting a strong blue bar as price broke to a new high. With signs of Go Trend Continuation (green circle) we know that momentum is resurgent in the direction of the “Go” trend and we will look for price to consolidate at these levels before potentially climbing further.
