$ATO has been in a “Go” trend since early February.
Since then, we have seen price race higher, ultimately to a price over $190. After that however, we saw price make a slightly lower low on weaker aqua bars. During that time, GoNoGo Oscillator fell to and through the zero line into negative territory. This was a concern for the “Go” trend as it showed that momentum was out of step with the trend. As price recovered, GoNoGo Oscillator rallied to challenge the zero line from below and spend a few bars at that level as we saw a small GoNoGo Squeeze build. With price painting strong blue “Go” bars near overhead resistance from the prior high, GoNoGo Oscillator has broken back into positive territory. This gives us signs of Go Trend Continuation (green circle) and we will watch to see if this momentum boost gives price the push it needs to climb to a new higher high in the coming days.
