$CMCSA flags new “NoGo” as it tests support

$CMCSA flags new “NoGo” as it tests support


September 2023


Alex Cole

$CMCSA has fallen out of the “Go” trend it was in for some time.

Having moved mostly sideways since the Go Countertrend Correction Icons at prior highs, we saw the trend weaken, with GoNoGo Trend painting weaker aqua bars before painting amber “Go Fish” bars that represent market uncertainty. This all happening as price tries to find support at the horizontal level from the gap in July.  During this time, GoNoGo Oscillator fell to test the zero line from above and remained at that level as a Max GoNoGo Squeeze grid climbed to its max.  On the last bar, we saw the Max Squeeze broken into negative territory and GoNoGo Trend paint a first “NoGo” pink bar.  We will watch to see if this negative momentum combined with change in trend will put enough pressure on price to break down through support.  In that case, look for the gap to be filled.

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