$AVGO has been in a “Go” trend since the very beginning of May.
Since then we have seen a series of higher highs and higher lows as price has climbed to almost $307. At that last high we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to move higher in the short term. Indeed, price fell and GoNoGo Trend painted consecutive weaker aqua “Go” bars. We turn our attention to the GoNoGo Oscillator panel and note that it has quickly found support bouncing off the zero line on heavy volume. We see a Go Trend Continuation Icon (green circle) under the price bar. This tells us that momentum is resurgent in the direction of the “Go” trend and with the trend indicator once again painting a strong blue bar we will look to see if price can climb to a higher high in the coming days.
