$NVDA has seen price rally over the last few weeks after enduring a small “NoGo” trend that moved prices lower.
The “Go” trend that had prevailed since late 2023 hit a high in March and gave way to “NoGo” bars in April. This “NoGo” appears to have been short lived however as GoNoGo Trend now paints a new “Go” bar. As price fell away from the high in March and April, GoNoGo Oscillator fell below the zero line and remained there, finding resistance at the zero level as price continued to struggle and entered a “NoGo”. During this most recent price rally, GoNoGo Oscillator rose to test the zero line once again, and this time remained there riding the line as we saw a GoNoGo Squeeze build. A few bars ago, as GoNoGo Trend painted amber “Go Fish” bars, the oscillator broke out of the GoNoGo Squeeze into positive territory. This was a leading indicator of trend change. Now, as GoNoGo Trend paints a first aqua “Go” bar, we know that momentum is surging in the direction of the new trend, and we can look for price to make an attack on a new higher high.
