$WDC has been in a “Go” trend since early May.
Since then, we have seen a series of higher highs and higher lows as price has climbed over $79.
After the last higher high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, we then saw GoNoGo Trend paint a majority of weaker aqua “Go” bars as price moved mostly sideways. During that time, GoNoGo Oscillator fell to test the zero line from above and remained stuck at that level, allowing a GoNoGo Squeeze to build to its Max. Now, the oscillator is breaking out of the Max GoNoGo Squeeze back into positive territory and we see strong blue “Go” bars have returned in the price panel pushing price above resistance and to new highs. With momentum resurgent in the direction of the “Go” trend we will look for price to consolidate at these higher levels before perhaps climbing further.
