$DBI sees renewed “Go” amid surging momentum

$DBI sees renewed “Go” amid surging momentum


August 2023


Alex Cole

In mid June $DBI entered a "Go" trend.

After highs in mid July, we have seen price move mostly sideways and the last few bars showed the market was uncertain as to the health of that trend as GoNoGo Trend painted a couple of amber "Go Fish" bars.  However, the last bar saw a return to "Go" colors as we see an aqua bar. During the sideways consolidation, GoNoGo Oscillator fell to spend a lot of time at the zero line.  This showed the tug of war between buyers and sellers at this level.  Now, the oscillator has found support at the zero line and is rallying into positive territory.  This shows renewed positive momentum as the "Go" trend continues.  We will look for price to make a new higher high.