$EA had been in a “NoGo” trend that saw a precipitous drop in price over the last few months.
However, after hitting extreme lows in late January after a large gap, we have seen price steadily climb off the lows. A series of weaker pink bars saw price rally and GoNoGo Oscillator rose to test the zero line from below. The oscillator rode the zero line and we saw a GoNoGo Squeeze build reflecting the tug of war between buyers and sellers at this level. After several bars, the GoNoGo Squeeze was broken into positive territory but quickly returned to that level and has been able to find support. Most recently, we saw GoNoGo Oscillator able to break out of another GoNoGo Squeeze into positive territory and this time it has coincided with a change in trend. GoNoGo Trend is now painting a new aqua “Go” bar. With momentum surging in the direction of the new “Go” trend, we will watch to see if price can move higher and close the gap.
