$OTIS has been in a “Go” trend since early February.
The “Go” Trend saw price move higher and we set the most recent high earlier this month. After that high we saw a Go Countertrend Correction Icon (red arrow) suggesting that price would struggle to go higher in the short term. GoNoGo Trend then painted several weaker aqua bars as price fell from the high. During this time, GoNoGo Oscillator fell to test the zero line from above. It has been finding support at that level. As long as the oscillator continues to find support at the zero line we will know that momentum is in line with the “Go” trend, and if it rallies back into positive territory that would tell us that momentum is resurgent in the direction of the underlying trend. If that happens again, we would look to see if price can challenge for new higher highs.
