Time to $PLAY?

Time to $PLAY?


February 2023


Alex Cole

$Play looks to have completed a bull flag.

The beginning of the year saw price rally sharply as GoNoGo Trend saw the "NoGo" trend end and a string of amber "Go Fish" bars give way to a "Go" trend.  We quickly saw a Go Countertrend Correction Icon (red arrow) indicating that price would struggle to go higher in the short term and that led to a consolidation against the trend (highlighted by the trend channel).  Importantly, GoNoGo Oscillator found support at the zero level and so with momentum staying on the side of the "Go" trend we saw price break out from the bull flag.  With some room to run based on a measured move into the pattern, we will look for GoNoGo Trend to continue to paint "Go" bars and for GoNoGo Oscillator to stay positive.