$IDXX has been in a “Go” Trend since late April.
Since then, we have seen price race higher to a high over $520. During that time, GoNoGo Oscillator has been in positive territory, confirming the “Go” trend we saw in the upper panel. After the last high, we saw a Go Countertrend Correction Icon (red arrow) suggesting that price may struggle to go higher in the short term. GoNoGo Trend followed with some weaker aqua bars as price fell slightly from that high. As GoNoGo Oscillator then fell to test the zero line from above, we watched to see if it would find support. As GoNoGo Trend began to paint stronger blue bars, the oscillator bounced off zero back into positive territory. This tells us that momentum is resurgent in the direction of the “Go” trend and we see a Go Trend Continuation Icon (green circle) under price. We will watch to see if this is enough to give price the push it needs to climb to a new higher high in the coming days.
