IBM, International Business Machines has been in a drawn out sideways consolidation for over a month.
Price is just a little off the highs of this “Go” trend that were seen late April and early May. This lack of price movement has caused the GoNoGo Oscillator to fall to the zero line on lower than average volume. We know the volume is low because the oscillator is an aqua color, not the dark blue that would indicate heavy volume. The climbing grid of the GoNoGo Squeeze has risen and is staying at its extreme and we will look at the GoNoGo Oscillator now to see which way it will turn. Given that we are in a “Go” trend, it is slightly more likely to break out of the GoNoGo Squeeze into positive territory. If it does, that would trigger a green, low risk Go trend continuation icon to appear under the price bar.
