$TSLA has made a new higher high in its new “Go” trend.
Back in early November, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to move higher in the short term. Indeed, we saw a mix of blue and weaker aqua bars as price moved sideways and eventually fell into a “NoGo” correction. GoNoGo Oscillator also fell into negative territory during this period of price weakness. As price rallied from the lows, GoNoGo Oscillator rose to challenge the zero line and we saw a small GoNoGo Squeeze which was broken by the oscillator moving into positive territory. GoNoGo Trend at the same time painted amber “Go Fish” bars representing uncertainty before blue “Go” bars signaled the return of the bullish trend. Now, with bright blue “Go” bars above horizontal resistance, and GoNoGo Oscillator rising toward overbought territory on heavy volume, we will watch to see if price can consolidate at these highs before potentially moving higher.
