$CPT is consolidating in a “NoGo” after hitting a low in mid October.
While the weight of the evidence tells us that the trend is still a “NoGo”, there are signs of change that could interest an aggressive investor. Initially, we saw bullish divergence between the price making lower lows and GoNoGo Oscillator making higher lows. Now, after price has made higher short term lows, GoNoGo Oscillator is riding the zero line, causing the climbing grid of GoNoGo Squeeze to rise to its max. We will watch carefully now to see in which direction the squeeze is broken. If GoNoGo Oscillator finds resistance at zero, and moves back into negative territory then the “NoGo” remains intact and we can expect a new lower low. If the Squeeze is broken to the upside, that could be enough to see trend change in the panel above as price moves higher.
