$IT has been embroiled in a “NoGo” trend that has moved sideways since early February.
There have been a few moments where the market has been unsure of the trend and we saw amber “Go Fish” bars of uncertainty. However, each time, after being unable to set a new high, GoNoGo Trend showed the “NoGo” return. Unable to make new highs or new lows, we saw price move sideways in a channel. Now, for the first time, we see GoNoGo Trend painting a fresh aqua “Go” bar and GoNoGo Oscillator is moving into positive territory on heavy volume. We will watch to see if this is the start of something new. With momentum in positive territory, we know that it is in line with the new “Go” trend and we will watch to see if this gives price the boost it needs to climb to a new high above overhead resistance in the coming days.
