$RVTY has been in a “Go” trend since early May.
Since then we have seen a series of higher highs and higher lows and GoNoGo Oscillator has been primarily at or above the zero line finding support at that level each time it has been tested. This has told us that momentum has been in line with the “Go” trend for several months. Most recently, after another higher high, we saw a Go Countertrend Correction Icon (red arrow), indicating that price may struggle to go higher due to waning momentum. After another attempt, we saw price fall from the high on weaker aqua bars and GoNoGo Oscillator once again tested the zero line. Again it found support, and we see it bouncing back into positive territory on heavy volume. This has triggered a Go Trend Continuation Icon (green circle) as GoNoGo Trend paints another strong blue bar. Price has soared to another higher high above prior high resistance and we will look for price to consolidate at these higher levels in the coming days.
