$RIOT in Max GoNoGo Squeeze

$RIOT in Max GoNoGo Squeeze


August 2023


Alex Cole

$RIOT has been in a "Go" trend since the end of June.

Price moved higher quickly since recognizing this new "Go" trend.  After hitting a high mid July, we saw a Go Countertrend Correction Icon (red arrow) appear to suggest that price may struggle to go higher in the short term.  Price has since moved mostly sideways as investors digest gains.  GoNoGo Oscillator fell to test the zero line as momentum waned and it has been stuck at that level since.  As the oscillator rides the zero line, we have see the climbing grid of GoNoGo Squeeze rise to its Max indicating prolonged lack of volatility.  We will watch to see if the Squeeze is broken to the upside.  This would indicate resurgent momentum in the direction of the "Go" trend and we would look for an attempt at a new higher high.