$PHIO has been in a very damaging “NoGo” for just about a year.
During the series of lower highs and lower lows we saw price try to make a move higher twice as large trading ranges pushed GoNoGo Trend to paint amber “Go Fish” bars. During both of those spikes, GoNoGo Oscillator flew into positive territory but then quickly reversed as the “NoGo” resumed. Is this time different? Price has moved in a much more measured fashion and we have seen GoNoGo Trend move through the colors, first with a few amber “Go Fish” bars then aqua and finally a strong blue “Go” bar. This trend change followed GoNoGo Oscillator’s break above zero a few bars prior. As the “Go” trend has taken shape, we see volume has increased as the oscillator has turned darker blue. With extremely strong momentum in the direction of the new “Go” trend, we will look for price to consolidate at these levels before moving higher.
