$MCK has been in a “Go” trend since January.
We have seen a series of higher highs and higher lows as price has climbed to almost $730. After the most recent high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, we saw price fall sharply and GoNoGo Trend paint several weaker aqua bars. We turn our eye to the oscillator panel and we see that GoNoGo Oscillator has been primarily supported by the zero line. Most recently the oscillator has broken out of a Max GoNoGo Squeeze into positive territory. We see a Go Trend Continuation Icon (green circle) signaling that momentum is resurgent in the direction of the “Go” trend. We will watch to see if this gives price the push it needs to climb to a new higher high.
