Certara Inc shows on the GoNoGo Chart a NoGo Trend Continuation icon, a red circle above the price bar indicating that momentum has returned in the direction of the “NoGo”
As we have seen since the end of last year, price has moved lower contained in a downward sloping trend channel but now price has broken down below the lower bound. This coincides with GoNoGo Oscillator testing the zero line again and being turned away back into negative territory on heavy volume. We can expect price to move lower and attempt to set a new lower low. A first target could be a measured move based on the width of the channel, $17 – $17.50. A protective stop could be set just above the lower bound of the existing channel.