$BNY has been in a “Go” trend since early April.
Since then we have seen a series of higher highs and higher lows as price topped $163. During that time, GoNoGo Oscillator was at or above the zero line providing support for the trend in price. Recently, after the last high in mid July, we saw a Go Countertrend Correction Icon (red arrow). This indicated that price may struggle to go higher in the short term due to waning momentum. GoNoGo Oscillator fell to test the zero line from above and it quickly found support bouncing back into positive territory. This tells us that momentum is resurgent in the direction of the trend and triggered a Go Trend Continuation Icon (green circle). We will watch to see if this boost in momentum is enough for price to climb to above prior highs in the coming days.
