A new “Go” trend has been identified on $TAP daily prices.
Early November saw a new low for prices and since then it has made efforts to rally from the low. After the last low, GoNoGo Oscillator made its way toward the zero line on heavy volume. It spent a couple of bars at that level before breaking into positive territory. As price made a new higher low, the oscillator quickly retested that level and found support bouncing back into positive territory. Using that positive momentum, price continued to rally and GoNoGo Trend painted amber “Go Fish” bars indicating that there was some uncertainty surrounding the “NoGo” trend and price’s future direction. With GoNoGo Oscillator now in positive territory but not yet overbought, GoNoGo Trend has been able to paint the first of the “Go” colors. With a new aqua bar, $TAP is a “Go”. With positive momentum, and the holiday season ahead of us, we’ll look to see if price can climb from here.
