$GE has been in a “Go” trend since the beginning of May.
Since then we have seen price race to a high in early June on mostly strong blue “Go” bars. After hitting a high on June 6th, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. We saw GoNoGo Trend paint a string of weaker aqua bars as price fell from the high. Price tried a second time to move higher but failed again at overhead resistance. This time, GoNoGo Oscillator rode the zero line and we see a GoNoGo Squeeze build as there was a battle between buyers and sellers at that level. With the oscillator breaking out of a GoNoGo Squeeze into positive territory we know that momentum is once again resurgent in the direction of the “Go” trend. With a Go Trend Continuation Icon (green circle), we will watch to see if this gives price the push it needs to break to a new high.
