$GLW has been in a “Go” trend since early May.
We have seen price move through a series of higher highs and higher lows since then as price has climbed to $54. During that time, GoNoGo Oscillator has been at or above the zero line, confirming the “Go” Trend. After the last high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle over the short term due to waning momentum. Indeed, price fell from that high and GoNoGo Trend painted a few weaker aqua bars. GoNoGo Oscillator fell to test the zero line and once again found support, bouncing back into positive territory. Now with GoNoGo Trend painting strong blue bars and GoNoGo Oscillator staying in positive territory on heavy volume, we will watch to see if this gives price the push it needs to move to a new higher high.
