$WMT has been in a “Go” trend since late November.
Since then, we have seen price climb to higher highs and higher lows. GoNoGo Oscillator has been primarily at or above the zero line during this move. Most recently, at the mid January high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, we saw weaker aqua bars as price fell from that high. Looking at the oscillator panel, we saw that GoNoGo Oscillator found support at the zero line and broke out of a Max GoNoGo Squeeze into positive territory. This tells us that momentum is resurgent in the direction of the “Go” trend and we see a Go Trend Continuation Icon (green circle) underneath the price bar. This boost in momentum has price surge through prior high resistance. We will watch to see if price can consolidate at these higher levels over the coming days before perhaps climbing further.
