$BABA hit an ultimate low in its “NoGo” trend late October.
Since then it has rallied. Momentum climbed first, as GoNoGo Oscillator rose to the zero line and the tug of war between buyers and sellers caused the climbing grid of GoNoGo Squeeze to reach its max. The oscillator broke out of the Squeeze into positive territory and that was quickly followed by GoNoGo Trend painting amber “Go Fish” and then “Go” bars. Now as price consolidates against the new “Go” trend, GoNoGo Oscillator is once again riding the zero line as a new GoNoGo Squeeze builds. We will look to see if the oscillator can break out of the squeeze into positive territory, which would be a healthy sign that the “Go” trend will persist. A break below zero would be a concern.