$REG looks for direction in Max GoNoGo Squeeze

$REG looks for direction in Max GoNoGo Squeeze


December 2022


Alex Cole

$REG has been consolidating sideways since flagging a Go Countertrend Correction Icon (red arrow) on 11/11/22.

This happened as price failed at resistance from a prior high in mid August.  The reduced price volatility that ensued has caused GoNoGo Oscillator to fall to and remain at the zero line, indicating a tug of war between buyers and sellers and no directional momentum.  We will watch to see in which direction the GoNoGo Squeeze is broken.  A break into positive territory would indicate Go Trend Continuation but a break out of the Squeeze below the zero line would suggest possible reversal.