$AAPL has been in a “NoGo” since earlier this month.
Now, stronger price action over the last few sessions has seen a rally from a low. This has been enough to cause GoNoGo Oscillator to test the zero line from below on heavy volume. Typically, if the “NoGo” trend is strong, this will act as resistance and when it gets turned away by the zero line we can be sure that momentum is back in the direction of the “NoGo” trend and look for price to make a new leg down. We can therefore, look perhaps down in time frame to take an entry in the direction of the “NoGo” trend. If the zero line does not provide resistance and the oscillator breaks into positive territory, then we know that there is trouble with the “NoGo”.
