$WYNN has been in a “Go” trend for several months.
Price has made a series of higher highs and higher lows as price has climbed north of $128. After the last high we saw a Go Countertrend Correction Icon (red circle) indicating that price may struggle to move higher in the short term. Indeed, following that indication, price fell back and GoNoGo Trend painted mostly weaker aqua bars. We looked to the oscillator panel and we saw that GoNoGo Oscillator had fallen to test the zero line from above and got stuck in an extended Max GoNoGo Squeeze. This reflected a virtual tug of war between buyers and sellers. With GoNoGo Oscillator breaking out of the Max GoNoGo Squeeze into positive territory we see that GoNoGo Trend is also once again painting strong blue bars as price climbs above prior high resistance. We will watch to see if price can consolidate at these higher levels in the coming days.
