October saw $OTIS enter a “Go” trend which has survived through the end of the year.
Now, as prices edge higher with slightly higher lows, we see GoNoGo Oscillator fall to the zero line. During this consolidation period, we have seen a clustering of Go Trend Continuation Icons (green circles) as the oscillator has quickly found support. This time, we are seeing a tug of war as there is little directional momentum as the oscillator remains stuck at zero. This has caused the climbing grid of GoNoGo Squeeze to hit its max. We will watch to see in which direction the Squeeze is broken. If we see a break into positive territory, we will look for the “Go” trend to continue and an attempt at a new high.