$ED has been in a “Go” trend since late January.
Since then, we have seen a series of higher highs and higher lows as price pushed its way up and over $114. However, after that last higher high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term and indeed price fell from the high as GoNoGo Trend painted a string of weaker aqua bars. GoNoGo Oscillator even dipped into negative territory briefly but has quickly moved back above zero on heavy volume. With momentum resurgent in the direction of the underlying “Go” trend, and GoNoGo Trend painting strong bllue bars, we will look to see if this momentum boost gives price the push it needs to climb to a new high.
