$BIDU, tries to maintain “Go” in face of divergence

$BIDU, tries to maintain “Go” in face of divergence

2

March 2023

By

Alex Cole

$BIDU has been in a "Go" trend since late last year.

During that time we see that GoNoGo Oscillator has primarily stayed at or above zero as you'd expect. However, we have seen bearish divergence as price made a higher high that was not confirmed by the oscillator, which instead made lower highs.  Following that, GoNoGo Oscillator broke below the zero line on heavy volume for the first time during the "Go" trend.  GoNoGo Trend painted an amber "Go Fish" bar before returning to paint "Go" bars.  Now, GoNoGo Oscillator has risen to test the zero line from below.  If this "Go" trend is to survive, the oscillator will need to regain positive territory.  If it is rejected here, then we are likely to see price set a lower high and struggle to continue painting "Go" bars.