$AMGN in Max GoNoGo Squeeze

$AMGN in Max GoNoGo Squeeze


December 2022


Alex Cole

$AMGN has seen price consolidate sideways for several weeks now.

GoNoGo Trend shows that price is in a “Go” trend however it has been a struggle to move higher since the high in early November.  A Go Countertrend Correction Icon (red arrow) suggested that it may be difficult in the short term for further gains and since then we have seen price stall and volatility shrink.  GoNoGo Oscillator fell to the zero line where it has remained, causing the climbing grid of GoNoGo Squeeze to rise to its max.  We will watch to see if the oscillator can break out of the squeeze into positive territory.  In which case, we would be able to say that momentum was back in the direction of the “Go” trend and could expect new highs.