$CZR in Max GoNoGo Squeeze and NoGo trend

$CZR in Max GoNoGo Squeeze and NoGo trend


October 2022


Alex Cole

$CZR testing the zero line from below as price tries to get back above resistance.

$CZR is looking to rally from a lower low and is struggling with horizontal resistance from a clustering of past buying and selling.  In a weak "NoGo" as GoNoGo Trend paints weaker pink bars, a max GoNoGo Squeeze has formed showing us that there is little directional momentum.  We will watch to see in which direction the Squeeze is broken.  Given the weight of the evidence tells us a "NoGo" is still in place, a downside break is slightly more likely and if that happens we may well see price test prior lows.