$AMZN in max GoNoGo Squeeze in “NoGo”

$AMZN in max GoNoGo Squeeze in “NoGo”


November 2022


Alex Cole

For the time being, $AMZN price seems to have stopped falling.

This "NoGo" trend has been in place since early September and we have seen a series of lower lows and lower highs bringing price down to a low of around $86.  Now as we see a correction against that low, GoNoGo Oscillator has risen to test the zero line where it has stayed, and we see the climbing grid of GoNoGo Squeeze at its max.  We will watch to see in which direction the squeeze is broken to help determine price next direction.   A return to negative territory would indicate momentum on the side of the NoGo trend which would suggest an attack on prior lows.  A break into positive territory out of the Squeeze would suggest trouble for the NoGo.