$BIIB has emerged out of the “NoGo” trend that it was in for much of this year.
After a string of amber “Go Fish” bars that indicated market uncertainty in the “NoGo” trend, GoNoGo Trend has been able to identify a new “Go” trend by painting an aqua bar. GoNoGo Oscillator first anticipated the changing technical environment when it burst through the zero line into positive territory on heavy volume. This momentum shift was out of step with the “NoGo” trend and we saw the consecutive “Go Fish” bars follow. Currently, on the most recent bar, we see the first of the “Go” colors. We can now say that momentum is on the side of the new “Go” trend and we will look for price to make an attempt at climbing above March highs.
