is big tech coming back


December 2020


Alex Cole

We’ve seen Tesla race to new highs in the last few weeks after moving sideways before that. This chart is a weekly chart of Apple and shows that it has yet to follow suit. However, it does seem to be trying to break out of the consolidation it has been in.
The GoNoGo Trend is a solid “Go” and the GoNoGo Oscillator so far has been able to find support at the zero line and in fact has just triggered a low risk entry. This is very positive when in a “Go” trend. We would like to see volume come back in, (the oscillator line would go dark blue) and a significant move into positive territory on the oscillator. If that happens, we would look for price to move to challenge prior highs of around 138.

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