Sunpower Corp has consolidated since entering a “Go” trend toward the end of September.
After the high on November 1st, price has corrected against the trend. As momentum has fallen into neutral territory we see the climbing grid of the GoNoGo Squeeze has climbed to its extreme and remains elevated. This highlights the reduced period of volatility as investors digest gains. We will look to see if the oscillator can break out of the squeeze to the upside, finding support at the zero line. This will tell us that momentum has returned in the direction of the “Go” trend and we will expect an attack on prior highs.
