$GLW was in a “NoGo” trend that pushed prices down to a low below $115.
After failing to make a lower low we saw GoNoGo Trend paint an amber “GoFish” bar of uncertainty as GoNoGo Oscillator approached the zero line from below. GoNoGo Oscillator has now broken back into positive territory as GoNoGo Trend paints a first aqua “Go” bar. We see overhead resistance on the chart from the prior high and also from lows earlier in the chart. We will watch closely to see if this surging momentum in the direction of the new “Go” trend will give price the boost it needs to climb above resistance and set a new higher high. If it does, we can look for the horizontal level drawn on the chart to be potential support going forward in this new trend.
