$DELL fell out of its “Go” trend at the end of August after gapping lower.
This came after we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle in the short term. Indeed, we saw GoNoGo Trend paint a string of weaker aqua bars as GoNoGo Oscillator fell through the zero line into negative territory. With GoNoGo Oscillator getting turned away by the zero line, we saw GoNoGo Trend fall into a “NoGo” but after failing to paint a lower low prices rallied and as the oscillator broke back into positive territory GoNoGo Trend painted a run of amber “Go Fish” bars representing uncertainty. Now, GoNoGo Oscillator is retesting the zero line from above and we see it find support. With this resurgent momentum, GoNoGo Trend paints a new aqua “Go” bar. With momentum on the side of the new “Go” trend, we will watch to see if price can climb to a new higher high in the coming days.
