$GEV has been in a “Go” trend since late last year.
Since then, we have seen a series of higher highs and higher lows as price climbed to a high close to $950. During this trend, GoNoGo Oscillator has been primarily supported by the zero line with only a few brief forays into negative territory. Now, after setting a new higher high but falling back on weaker aqua bars, we see GoNoGo Oscillator fell to test the zero line again. It found support this time, spending a few bars at the zero line before rallying back into positive territory on heavy volume. This has triggered a Go Trend Continuation Icon (green circle) under the price bar as it gaps higher. With momentum therefore resurgent in the direction of the “Go” trend, we will watch to see if price can consolidate above the horizontal level we see on the chart before potentially climbing to new higher highs.
