$LYV had been in a “NoGo” since the beginning of October.
Since then, we saw prices move lower on a series of lower lows and lower highs. During this trend, GoNoGo Oscillator remained at or below the zero line confirming the downward trend in price. Recently, after the most recent low, we saw prices rally on mostly weaker pink bars, and GoNoGo Oscillator rose to test the zero line from below. We watched to see whether or not the zero line would act as resistance yet again and it did not. The oscillator burst through in to positive territory. This told us that momentum was out of line with the underlying “NoGo” trend. After price failed once at resistance, GoNoGo Oscillator fell back to the zero line and found support. With increasing volume, GoNoGo Oscillator is surging further into positive territory at a value of 3 as GoNoGo Trend paints a new “Go” bar. With momentum on its side, we will see if price is able to break to a new high in its early “Go” trend.
