$CCL has been in a “Go” trend since early May.
Since then we have seen a series of higher highs and higher lows as price has moved to over $30. After the last higher high we saw a couple of Go Countertrend Correction Icons (red arrows) indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, we saw GoNoGo Trend paint weaker aqua bars and price has moved mostly sideways since. When we look at the GoNoGo Oscillator panel, we see that the zero line has offered support during this “Go” trend. Most recently, the oscillator has tested that level and bounced back into positive territory. GoNoGo Trend is painting strong blue “Go” bars again as price tests prior highs. With momentum resurgent in the direction of the trend (Go Trend Continuation, green circle) we will watch to see if this gives price the push it needs to set a new higher high.
