$NGD has been in a “Go” trend since the end of March.
Having hit a high mid April, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Following that, we have seen price pull back and GoNoGo Trend paint some weaker aqua “Go” bars. This price action has caused GoNoGo Oscillator to fall to the zero line and stay there, allowing the climbing grid of GoNoGo Squeeze to start to rise. We will watch closely to see if the oscillator finds support at this objective level and if it does we will be able to say that momentum is resurgent in the direction of the “Go” trend. We would then look for an attack on the recent high.
