$JPM looks for support in “Go” trend

$JPM looks for support in “Go” trend


January 2023


Alex Cole

$JPM is coming off a recent high in its current “Go” trend.

We saw a Go CounterTrend Correction Icon (red arrow) that indicated price may struggle to go higher in the short term about a week ago.  Since then, GoNoGo Trend has painted mostly weaker aqua “Go” bars and GoNoGo Oscillator has fallen sharply to the zero line on heavy volume.  After a couple of bars stuck at this level, a GoNoGo Squeeze is starting to build.  We will watch to see if the oscillator can find support at this level and if it does that would tell us that momentum remains on the side of the trend. We could then look for price to make an attempt at a new higher high.