$APA has been in a “Go” trend since late July.
Since then it raced to highs over $45 with a series of higher highs and higher lows and mostly bright blue “Go” bars. At that high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term and indeed we saw price fall back on weaker aqua bars. As this happened, GoNoGo Oscillator fell to test the zero line from above and we saw it ride that level for a few bars. However, it quickly rallied back into positive territory. This tells us that momentum is resurgent in the direction of the “Go” trend and comes as GoNoGo Trend paints strong blue bars. With a Go Trend Continuation Icon (green circle) in place, we will watch to see if this gives price the boost it needs to climb to a new higher high in the coming days.
