$MA was in a “NoGo” trend for the last few months.
During that trend, we saw a series of lower lows and lower highs as price moved under $525. During that trend, we saw multiple Max GoNoGo Squeezes that were broken to the downside. This told us emphatically each time that momentum was resurgent in the direction of the “NoGo” trend and we saw NoGo Trend Continuation Icons (red circles) above price. After the most recent low, we saw another extended Max GoNoGo Squeeze build as GoNoGo Oscillator hugged the zero line reflecting a tug of war between buyers and sellers at these levels. This time, the GoNoGo Oscillator broke out of the Squeeze into positive territory, indicating that momentum was out of step with the “NoGo” trend. We then saw uncertainty with a couple of “Go Fish” bars, before a new “Go” appeared. With momentum positive and in line with the new “Go”, we will look for prices to consolidate and perhaps climb further in the coming days.
