$ALGN looks for support in “Go” trend

$ALGN looks for support in “Go” trend


March 2023


Alex Cole

$ALGN has been in a “Go” trend since the very end of last year.

At the beginning of February we saw a large gap higher,  Since then price has been unable to make a new higher high.  Soon after that gap, we saw a Go Countertrend Correction Icon (red arrow) as price consolidated the gains and corrected against the trend.  The gap seems to have provided some support however, and GoNoGo Oscillator  has been “riding the zero line” for several bars as GoNoGo Trend paints mostly weaker aqua bars. We will watch for a break of the Max GoNoGo Squeeze that has formed. A breakout above zero would tell us that momentum is resurgent in the direction of the “Go” trend and we could look for price to mount an attack on the prior high.  A breakout of the GoNoGo Squeeze into negative territory would of course be a concern.

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