New “Go” trend for $ADBE identified by GoNoGo Trend.
After a high in September we saw a Go Countertrend Correction Icon (red arrow) that indicated price may struggle to go higher in the short term. Indeed, after that we saw a correction deep enough to cause GoNoGo Trend to paint “NoGo” bars. During that time, GoNoGo Oscillator fell into negative territory. A few bars ago, we saw GoNoGo Oscillator break back into positive territory as GoNoGo Trend painted a string of amber “Go Fish” bars. Finally, GoNoGo Trend has painted an aqua “Go” bar as price remains close to horizontal resistance. With a “Go” trend now in place and positive momentum, we will watch to see if price can make an attack on a new high.
