$CHRW gapped into a new “Go” trend at the end of October.
Since then we have seen prices rise on slightly higher highs and higher lows and GoNoGo Oscillator has been finding support at or above the zero line. After the most recent higher high, we saw a Go Countertrend Correction Icon (red arrow) telling us that price may struggle to go higher in the short term due to waning momentum. Indeed, we saw price fall from the high and GoNoGo Trend paint weaker aqua bars. GoNoGo Oscillator again tested the zero line where it rallied twice back into positive territory. Now, we see momentum surging as price breaks to a new higher high. With momentum in line with the “Go” trend, we will look for price to consolidate at these higher levels and potentially move even higher.
