$AMZN momentum surges in “Go” trend

$AMZN momentum surges in “Go” trend


May 2023


Alex Cole

The new “Go” trend in $AMZN that started in March has brought price up to test prior high.

Once GoNoGo Oscillator was able to get above the zero line earlier in March we have seen a series of higher highs and higher lows.  During this time, GoNoGo Oscillator has mostly found support at the zero line.  Recently, GoNoGo Oscillator rode the zero line for several bars, allowing the climbing grid of GoNoGo Squeeze to climb to its Max.  Having broken out of the Squeeze into positive territory, price jumped higher and we are now up agains resistance from a prior high.  We will watch to see if the surging momentum is enough to push price to a new high.