$DELL has been meandering sideways for several weeks.
After gapping higher at the end of June, we see that price settled into a well defined sideways channel with upper and lower bounds. During that time, we have seen no higher highs or lower lows. During the second half of the channel we see GoNoGo Trend painting mostly weaker aqua “Go” bars and even the odd “Go Fish” and “NoGo” bar. GoNoGo Oscillator has struggled to distance itself from the zero line in either direction and is now back in positive territory. This comes as price has jumped to test the upper bound of the channel. With momentum resurgent in the direction of the “Go” trend, we will watch to see if price is able to climb above resistance to a new higher high in the coming days and weeks.
