$IVZ has been in a “Go” trend since late April.
We saw price quickly climb to a new high in the middle of this month before struggling to deal with waning momentum. We saw another Go Trend Correction Icon (red arrow) at the high indicating that price may struggle to go higher in the short term. Indeed, price fell on weaker aqua “Go” bars and GoNoGo Oscillator fell to test the zero line from above. We see a Max GoNoGo Squeeze reflecting the tug of war between buyers and sellers during this time. Now, we see GoNoGo Trend once again painting strong blue “Go” bars as GoNoGo Oscillator breaks out of the Squeeze into positive territory. With this resurgent momentum in the direction of the “Go” trend we will watch to see if price can climb to a new high and challenge the previous high from January.
