$TROW has been in a “Go” trend since mid April.
This new trend emerged after price rallied out of a “NoGo” trend that it had been in via a few amber “Go Fish” bars of uncertainty. Once the trend was established price rose quickly on mostly strong blue “Go” bars to a new higher high in early May. After this high, we saw a Go Countertrend Correction Icon (red arrow), indicating that price may struggle to go higher in the short term due to waning momentum. Price then fell from the high on a string of weaker aqua bars as GoNoGo Oscillator fell to test the zero line from above. We saw a Max GoNoGo Squeeze reflecting the tug of war between buyers and sellers at this level and eventually the Squeeze was broken with the Oscillator moving into positive territory. With this boost in momentum in the direction of the “Go” trend, we see a Go Trend Continuation Icon (green circle). We will watch to see if this gives price the boost it needs to climb to a new higher high in the coming days and weeks.
