$AMD has entered a “NoGo” trend for the first time since January.
Toward the end of March we noted a Go CounterTrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. GoNoGo Oscillator then fell to test the zero line. In a strong “Go” trend that level should provide support. We therefore watched with interest as a GoNoGo Squeeze climbed to its max. When that GoNoGo Squeeze was broken to the downside, we knew that was trouble for the “Go” trend as momentum was no longer on the side of the trend. Now, after a transitionary amber “Go Fish” bar, we see a strong purple “NoGo” as a new trend begins.
