$AI looks for support in new “Go” trend

$AI looks for support in new “Go” trend

7

November 2023

By

Alex Cole

$AI was in a "NoGo" trend since early August.

Having found support at the lower horizontal trend line, price has climbed from the lows and entered a "Go" trend.  While price moved sideways at the lows, GoNoGo Oscillator rallied to test the zero line from below.  It remained at or around that level demonstrating the tug of war between buyers and sellers as they wrestled for direction.  As price entered a "Go" trend, breaking above horizontal resistance in the process,  we saw the oscillator move more cleanly into positive territory confirming the new trend in price.  Now, as price experiences a pull back, we see that it is testing the support from the upper horizontal line.  We will watch to see if it finds support here and pay close attention to the oscillator as it tries to stay in positive territory.