$ADBE has seen daily prices correct against the high on the 12th of last month.
We can see that price has fallen into amber “Go Fish” bars after spending several bars with GoNoGo Trend painting weaker aqua “Go” bars. This has caused GoNoGo Oscillator to fall to test the zero line from above. It has remained stuck at zero for some time allowing the climbing grid of GoNoGo Squeeze to climb close to its max. We will watch to see if the oscillator can break out of the Squeeze into positive territory which would likely see prices move back into a “Go” trend. Is this a pause in a larger trend? We can turn to the lower chart here to see weekly price bars and indeed, price is still painting aqua “Go” colors on the longer time frame. Worth noting here is that the oscillator is also at the zero line! We will watch to see if it finds support here and if it does we would be able to say that momentum is resurgent in the direction of the underlying “Go” trend. This could lead to higher price moves as the daily chart would return to its “Go” trend as well.
