Core Laboratories stuck in persistent “NoGo”

Core Laboratories stuck in persistent “NoGo”


September 2021


Alex Cole

Core Laboratories is in a strong "NoGo" trend.

After trying to rally off the low from late August price failed to get above resistance at just over $29.  GoNoGo Oscillator rode the zero line as price tried to rally and couldn't significantly break into positive territory.  It looks as though now the oscillator has been rejected by the zero line on heavy volume.  We see a NoGo trend continuation red circle over the current price bar.  This suggests that momentum has come back in the direction of the trend and price could move lower, resuming the "NoGo" trend.