$META enters “NoGo” trend

$META enters “NoGo” trend


August 2023


Alex Cole

$META has been in a "NoGo" trend since the end of '22.

With a series of higher highs and higher lows and GoNoGo Oscillator primarily finding support at the zero line the "Go" trend has not been seriously threatened until now.  After a Max GoNoGo Squeeze last week, the oscillator broke down into negative territory and we saw GoNoGo Trend paint an amber "Go Fish" bar.  Uncertainty like that is often seen in transitionary periods between trends and unsurprisingly, yesterday was painted purple, a strong "NoGo" by GoNoGo Trend.  We will look for price to set a new lower low as the trend develops.