$PFE emerged from a strong “NoGo” trend about a week ago.
However, since then, it has only been able to paint a mixture of weak aqua “Go” and amber “Go Fish” bars. Having rallied off the recent lows to a new high on March 13th, price has fallen and GoNoGo Oscillator has fallen to test the zero line. If this new “Go” trend is to persist, we will want to see GoNoGo Oscillator find support at the zero line. If it can hold this level and rally back into positive territory then we would be able to say that momentum is resurgent in the direction of the new “Go” trend. With positive momentum, we would likely see the “Go” trend strengthen and GoNoGo Trend start painting stronger blue bars. With strengthening trend and confirming momentum, we could then look for price to make an attempt at a new higher high.
