$CTSH has been in a “Go” trend since late July.
We saw price climb steadily on a majority of bright blue bars as it reached $65. At that high, we saw 2 Go Countertrend Correction Icons (red arrow) indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, we saw a string of weaker aqua bars as price fell from the high. GoNoGo Oscillator fell from overbought territory and crashed through the zero line into negative territory but has quickly recovered and even regained positive territory at a value of 1. This tells us that momentum has returned in the direction of the “Go” trend and we see that GoNoGo Trend is painting a fresh blue bar. With momentum therefore resurgent in the direction of the “Go” trend we will watch to see if it gives price the push it needs to climb to a new higher high.
