A few days ago we noted that $META might be ready to resume its “Go’ trend.
Today, we see a new “Go” bar as price continues to rally. After hitting a high at the end of July, we saw price correct, first GoNoGo Trend painted weaker aqua bars, then GoNoGo Oscillator fell to test the zero line from above. We saw a Max GoNoGo Squeeze as the oscillator remained at zero, reflecting the tug of war between buyers and sellers at those levels. As the GoNoGo Squeeze was broken into negative territory we saw a “NoGo” correction that lasted a few weeks. However, at the beginning of this month, we saw another GoNoGo Squeeze (amber grid) build, and this was broken to the upside. As the oscillator moved into positive territory the “NoGo” gave way to amber “Go Fish” bars representing uncertainty before the current bar turned “Go” (at the time of writing). With momentum positive, resurgent in the direction of this new “Go” trend, we will look for price to make an attempt at a new higher high, above $325.
