$GWW entered a “Go” trend in early April.
Since then, we have seen a series of higher highs and higher lows as price has climbed consistently. During this move, GoNoGo Oscillator has been primarily at or above the zero line providing support for the trend. After the previous high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, we then saw GoNoGo Trend paint weaker aqua bars as price moved mostly sideways. During this period, GoNoGo Oscillator fell to test the zero line from above and immediately found support, bouncing back sharply into positive territory. This shows momentum is resurgent in the direction of the trend and there is strong market participation as volume is heavy (dark blue oscillator). This has helped price surpass the overhead resistance from the prior high. We will watch to see if price can consolidate at these elevated levels before perhaps climbing further in the coming days and weeks.
