$NVDA was in a strong “Go” trend dating back to late last year.
Two weeks ago, price fell out of the “Go” trend and painted an amber “Go Fish” bar representing market uncertainty. This came after an extended period of mostly sideways action since we saw Go Countertrend Correction Icon at the last high in March. During that time we saw a majority of weaker aqua “Go” colors, and GoNoGo Oscillator failed to find support at the zero line. With momentum in negative territory, GoNoGo Trend painted “NoGo” colors but was not able to maintain the trend as we now see amber “Go Fish” once again. GoNoGo Oscillator is retesting the zero line from below. It will be important to note whether or not we see the zero line hold as resistance for the Oscillator. If it does, and momentum gets turned away back into negative territory we will likely see the “NoGo” return and we can expect new lows in price.
