$ADBE has been in a “NoGo” trend since mid June.
Since then we saw price move lower on pink and purple “NoGo” bars until it reached a low around $330. During the trend, GoNoGo Oscillator stayed at or below the zero line telling us that momentum was in line with the “NoGo” trend. However, after the low on August 12th, we saw the oscillator rally to the zero line again an this time break into positive territory. With momentum positive, price rallied on weaker pink “NoGo” bars but was unable to break above resistance. We saw price fall again, staying in the “NoGo” trend and GoNoGo Oscillator fall to zero from above. With a virtual tug of war between buyers and sellers causing a Max GoNoGo Squeeze, we see GoNoGo Trend painting an amber “Go Fish” bar representing uncertainty. It will be important to note the direction of the break of the GoNoGo Squeeze. Should the oscillator rally into positive territory we may see price take another run at resistance and potentially enter a new “Go” trend if it makes a higher high.
