American Water Works sees new “Go” identified after weeks of a “NoGo” correction.
The GoNoGo Oscillator after testing and then riding the zero line from below during the first half of October was able to break into positive territory and since then has found support at that level. As it bounces off zero for the second time, it does so as GoNoGo Trend has changed to pale aqua “Go” bars. This signals that the new “Go” trend is in line with the current direction of momentum. Price is at resistance from the top of the September gap, and we will need to see it consolidate above this level for the “Go” to take hold.
