$FOUR looks for support as “GO” trend cools

$FOUR looks for support as “GO” trend cools


September 2022


Alex Cole

$FOUR in max GoNoGo Squeeze as price comes off highs.

After rallying off the July lows, GoNoGo Oscillator rose and broke through the zero line into positive territory.  GoNoGo trend followed the positive momentum by painting "Go" bars as price broke above resistance.  Having once found support at what was once resistance (polarity), price has fallen back to that level again.  GoNoGo Oscillator is now riding the zero line as there is little directional momentum.  We will look for the oscillator to break out of the max GoNoGo Squeeze to tell us in which direction price may head.  If it continues to find support and moves into positive territory we can look for price to make an attempt and a new high.