$CAT has been in a “Go” trend for several months.
In early September, we saw a few bars of uncertain amber “Go Fish” bars as the market took a pause. GoNoGo Oscillator fell to test the zero line from above and we saw a Max GoNoGo Squeeze. When the Oscillator burst out of the Squeeze into positive territory price quickly followed with higher highs and higher lows and mostly strong blue “Go” bars as price gapped to a high of almost $600 at the end of October. After this high, we saw another Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, price has moved mostly sideways as GoNoGo Trend has painted a majority of weaker aqua bars since then. GoNoGo Oscillator fell to test the zero line again and we saw an extended Max GoNoGo Squeeze build. The Squeeze was recently broken to the upside with GoNoGo Trend again painting strong blue bars as price challenges overhead resistance. With momentum resurgent in the direction of the “Go” trend, we will watch to see if this gives price the boost it needs to set a new higher high in the coming days.
