$AMZN had been in a “Go” trend since the beginning of November 2023.
Since then it has made a series of higher highs and higher lows and GoNoGo Oscillator has been supported by the zero line. Recently, on the last high we spotted bearish divergence with GoNoGo Oscillator making a lower high. GoNoGo Trend is painting a weaker aqua “Go” bar as price falls from this latest high. GoNoGo Oscillator, having already shown bearish divergence, has fallen to test the zero line from above. We know, that if this “Go” trend is to remain healthy, the oscillator should find support at this level and rally back into positive territory. If it does, we can expect another attempt at a new high. If the GoNoGo Oscillator fails at zero, moving into negative territory, then we could expect a deeper correction and potential trend change in the panel above.
