$SOS riding the zero line, squeeze building

18

March 2021

By

Alex Cole

$SOS has been in a “Go” trend since January 14th when it was at $2.50. 

Since that time, it has experienced a huge run up to around $16 but has since corrected heavily giving up a large portion of those gains.  However, the GoNoGo Oscillator has been able to stay above or at the zero line during this pullback.  The climbing grid of the GoNoGo Squeeze has been in effect since February 21st and so we will look to see if it can break out of the Squeeze to the upside which would suggest price will try to regain the high of February 17th.  If it doesn’t find support at zero, and breaks down into negative territory then the GoNoGo Oscillator would be suggesting trouble for the “Go” trend.