$DELL has been in a “Go” trend since late February.
As the trend has progressed, we have seen a majority of strong blue “Go” bars as price has made higher highs and higher lows. At the last high, we saw a Go Countertrend Correction Icon (red arrow) and price fell from the high with weaker aqua bars. GoNoGo Oscillator fell to test the zero line and we see that it has been able to find repeated support at this level. This tells us that momentum has remained in line with the underlying “Go” trend. Now, as price paints bright blue bars again and climbs above resistance from that prior high, we see GoNoGo Oscillator again bouncing off zero into positive territory. With momentum therefore resurgent in the direction of the “Go” trend, we will watch to see if this allows price to consolidate at these elevated levels before potentially climbing higher still in the coming days and weeks.
