$OTIS hit a low mid October and we are seeing price rally out of what looks now like a basing pattern.
On the right side of the pattern we saw GoNoGo Oscillator start to challenge the zero line and we know that this should act as resistance if the “NoGo” trend was to remain healthy. Finally we saw the oscillator break above the zero line and volume increase (oscillator turns dark blue). This momentum surging into positive territory has encouraged price to break above resistance and paint a new “Go” bar.
