$CDW new “Go” trend as momentum surges

$CDW new “Go” trend as momentum surges


October 2023


Alex Cole

$CDW experienced a correction from the highs in early September.

We saw a Go Countertrend Correction Icon (red arrow) at the highs that suggested price may struggle to go higher in the short term.  After that, GoNoGo Trend painted a string of weaker aqua bars before the trend gave way to amber, and then purple and pink "NoGo" bars.  During that correction, GoNoGo Oscillator dove into negative territory.  Now, however, as GoNoGo Trend paints a fresh "Go" bar, we see that GoNoGo Oscillator has burst back into positive territory and volume is heavy.  This tells us that there is strong market participation and that momentum is on the side of the new "Go" trend.  We will look for price to make an attack on the most recent high.