$MS has been in a “Go” trend since early May.
Since then we have seen a series of higher highs and higher lows as price has moved north of $145. After the most recent high, we saw a couple of Go Countertrend Correction Icons (red arrows) indicating that price may struggle to move higher in the short term. Indeed, we saw price then move mostly sideways and GoNoGo Trend paint several weaker aqua bars. During that time, GoNoGo Oscillator fell to test the zero line from below, and we saw a Max GoNoGo Squeeze, reflecting the virtual tug of war between buyers and sellers at this level. Now with GoNoGo Trend painting strong blue bars and testing resistance once again, we see the oscillator breaking out of the Squeeze into positive territory. With a Go Trend Continuation Icon (green circle) we know that momentum is resurgent in the direction of the “Go” trend, and we will look to see if this gives price the push it needs to set a new higher high this week.
