$MMC has been in a “Go” trend since late January.
Since then, we saw price climb impressively to a high above $240 with a string of uninterrupted bright blue “Go” bars. At that high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, price fell from the high and GoNoGo Trend painted consecutive weaker aqua bars. After a period of weakness, GoNoGo Oscillator rode the zero line and we saw a GoNoGo Squeeze build indicating a tug of war between investors at this level. GoNoGo Trend started to paint strong blue bars again. Now, with the oscillator breaking out of the Squeeze into positive territory on heavy volume, we know 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 make a new higher high.
