NVDA pauses as GoNoGo Squeeze climbs to an extreme

19

January 2021

By

Alex Cole

This is a weekly chart of Nvidia Corp.  As price consolidates sideways we se the climbing grid of the GoNoGo Squeeze reaching extremes, indicating that we are seeing reduced volatility and market activity. It’s as if the stock is thinking. Currently in a “Go” trend, we will watch to see in which direction the GoNoGo Oscillator will break out of the squeeze to determine the likely direction of the next move in price. Given the trend we are in, it is slightly more likely the break out of the squeeze will be to the upside, and this will signal a trend renewal.